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Topic: Can the US become EU's oil supplier?? (Read 367 times)

full member
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September 04, 2022, 04:59:38 PM
#46
I think it's just a change in the market on the other hand, now America is in a better position to provide a new source of crude oil. Extraction of oil and shale gas has recently become economically viable, with large fields being developed in states such as Pennsylvania, Texas, Louisiana and Arkansas. This will allow the US to become the dominant oil supplier for several years to come. As a result, American companies have the potential to benefit greatly from alliances with the EU. such market changes will benefit the EU and the US.
Why would US be EU oil supplier.
Week ago Biden was in USA - asking Saudis about the help to provide the oil and gas. Saudi did not agree to all terms and condition
Would USA be providing the oil to EU after they get supply from Saudia - no they will fullfill their needs only
sr. member
Activity: 1484
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August 15, 2022, 10:21:04 PM
#44
As the main European allies, of course the US can be an oil supplier partner, the USA has an oil source obtained in many countries, especially in Arabic, and according to the oil price report is down so that the thing that can make prices increase is to increase the oil demand.
sr. member
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August 16, 2022, 08:04:07 AM
#42
I think it's just a change in the market on the other hand, now America is in a better position to provide a new source of crude oil. Extraction of oil and shale gas has recently become economically viable, with large fields being developed in states such as Pennsylvania, Texas, Louisiana and Arkansas. This will allow the US to become the dominant oil supplier for several years to come. As a result, American companies have the potential to benefit greatly from alliances with the EU. such market changes will benefit the EU and the US.
legendary
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August 15, 2022, 11:01:19 PM
#41
From what I know, the United States is the largest producer of crude oil in the world (11-12 million barrels per day). But it consumes more than what it produces and therefore is a net importer of crude. But the catch here is that Canada (4.5 million barrels per day) and Mexico (1.7-1.8 million barrels per day) export most of their crude through the ports in the United States. So the US actually exports millions of barrels of crude per day, more than it imports from other countries outside North America. But for the US exporters, East Asia (China, Japan, South Korea, Taiwan.etc) is a more lucrative market, when compared to Western Europe.
jr. member
Activity: 70
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August 15, 2022, 07:31:52 PM
#40
  With all the ruckus surrounding America right now; their part in the Taiwan issue and also their less than secret partnership with the Ukrainians, I think it's safe to say that Biden has a lot on his plate. But how about we add more??
 We've had the issue of the Russians retaliating against all the sanctions imposed on them by threatening- if I can be allowed to use that word- to cut off supply of crude to the EU and the body deciding to reduce it's use and dependence on their oil. This sounds achievable, right? Fine..
 Over the years, the US have been known to have amassed a lot of crude oil and gas to last generations! US oil purchase history

 And Russia has earned almost a $100bn just from sales to the EU. Correct me if I'm wrong, but I think it's from such means they are being able to foster the war, so if the US can block this means and become the only supplier to the EU, it could cause a big deal between the US and Russia. But the question there will be; can they risk it?

What oil ? EU is going net zero ... they are trying to starve us here
hero member
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August 15, 2022, 03:25:39 PM
#39
Oil prices fall but world oil needs continue to increase, especially the European region which is the world's largest oil consumer, I think it is difficult to meet the needs of European oil, especially since the US is also the world's largest oil importer, unless Europe wants to buy at a more expensive price.

The demand for oil is not stopping any time soon whether in Europe or across the world. The issue that the europe energy need is on the public is because of the retaliatory sanction from Russia and this shows that oil is still at high demand. US will not be able to take care of the oil need of Europe alone so they will also need help from neighbouring continent.
hero member
Activity: 2296
Merit: 757
August 15, 2022, 01:20:41 PM
#38
There are better options than the United States to supply oil to the European Union, including the Arab Gulf states, in terms of ease and speed of transportation, as well as cost. Crude oil can be imported from Saudi Arabia and re-refined in European platforms.
The matter does not seem the same with regard to gas supplies, since natural gas can only be transported in pipelines, which of course do not currently exist and will require years to establish to connect with producing countries. Therefore, the only solution is to import liquefied gas, which costs more and requires platforms to convert it into natural gas after transferring it. Most EU countries do not have these platforms .
legendary
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August 15, 2022, 10:08:50 AM
#37
Europe has Arabic countries right there, why would they need it from USA? I mean maybe there could be some problems politically with them too but I guess it is not as much and we will probably see a better and easier logistical solutions if we do that.

Sure you can do USA to EU as well via ships if we are talking about just Oil, the amount of oil one ship can carry could be huge, and if you have constant ships going and coming back constantly then it could survive and works out. BUT! why would you, you could literally just have Saudi oil as your main resource and could get it via some pipe or something if you really wish to and you could feed the entire Europe with that.
full member
Activity: 1162
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August 14, 2022, 02:30:45 AM
#36
Oil prices fall but world oil needs continue to increase, especially the European region which is the world's largest oil consumer, I think it is difficult to meet the needs of European oil, especially since the US is also the world's largest oil importer, unless Europe wants to buy at a more expensive price.
legendary
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August 12, 2022, 07:59:11 PM
#35
US is not a great oil producer, yes it has vast deposits. Shale gas is also an asset of US, but if you that can transported in a cost effective manner to Europe through Pacific and as cost effective as Russians do to Europe than it can make some sense, but that's improbable. Yes US can force Russia to supply gas at lower costs to Europe by a mix of market manipulation and sanctions
US have got big oil reserve, but it keeps it away from exporting. It makes good relations with Gulf countries and make use of the oil. If USA and Russia are in good relation what you've said could happen through agreement, but not through manipulation and sanctions. The oil producers limiting the production to increase demand too a reason for the oil problem all around. Moving to the renewable energy sources is the right choice for now than looking over the oil issues.
legendary
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August 10, 2022, 07:19:18 PM
#34
The US can supply exactly the same oil to the EU as any other supplier! Moreover, an agreement has already been reached on increasing the level of shale oil production in the United States, which can partially cover the volume that the terrorist country supplied to the EU. The question is who will cover the rest? But the problem is that over the next 4 years, Saudi Arabia will increase (by the way, production was already raised in July and August) production, which will cover 80% of Russia's oil supplies to the EU. I think that the time is not so far away when Venezuela will return to contacts with an adequate world and resume oil supplies to the whole world.
hero member
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August 10, 2022, 11:42:24 AM
#33
It is already a supplier as far as I know, the problem with US oil is that is not going to be as cheap as other sources that are more readily available and can be extracted at a cheaper cost. The fracking process requires continuous CAPEX investments that are much larger than those required for conventional oil. Despite the major "easy" fields have been used up, there is still much better quality and price outside US.
Being supplier and being "the" supplier is a big difference. If USA had enough oil than first order of business would be making sure that its own people would buy it cheap, but they can't make the companies sell it for cheap when the price is so high. Companies in oil business are making more profit, but the price of oil is high right now so they can't just say "stop with the increasing prices" because it is increasing already and they can't do anything about it.

But, if they could somehow manage to make it stop, then they would be able to cheapen it for the citizens, not Europe. So, they can't just cover all of the needs from EU, maybe Arabic countries with a bunch of oil could help EU instead.
legendary
Activity: 1876
Merit: 1157
August 09, 2022, 11:27:37 PM
#32
US is not a great oil producer, yes it has vast deposits. Shale gas is also an asset of US, but if you that can transported in a cost effective manner to Europe through Pacific and as cost effective as Russians do to Europe than it can make some sense, but that's improbable. Yes US can force Russia to supply gas at lower costs to Europe by a mix of market manipulation and sanctions
legendary
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August 09, 2022, 11:07:06 PM
#31
It is already a supplier as far as I know, the problem with US oil is that is not going to be as cheap as other sources that are more readily available and can be extracted at a cheaper cost. The fracking process requires continuous CAPEX investments that are much larger than those required for conventional oil. Despite the major "easy" fields have been used up, there is still much better quality and price outside US.

Shale oil costs anywhere between $40 and $60 per barrel to extract (taking in to account the higher labor cost in the United States). And this is the reason why a lot of the companies filed for bankruptcy back in 2020, when the crude prices went down to $40 per barrel. Even now they haven't resumed production at full capacity. The shale oil producers, as well as OPEC+ understands that oversupply can once again bring down the prices to 2020 levels. So even if they have the capacity to increase production, the oil producers won't be that excited to do so.
legendary
Activity: 2142
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Do not die for Putin
August 09, 2022, 04:10:53 AM
#30
It is already a supplier as far as I know, the problem with US oil is that is not going to be as cheap as other sources that are more readily available and can be extracted at a cheaper cost. The fracking process requires continuous CAPEX investments that are much larger than those required for conventional oil. Despite the major "easy" fields have been used up, there is still much better quality and price outside US.
newbie
Activity: 1
Merit: 0
August 09, 2022, 03:09:11 AM
#29
This is not possible, it would be very difficult without a pipeline between the US and Europe, it would be a huge expense, and it would not be possible. There are also some countries in the EU that absolutely disagree. If dependent on the United States, the European Union will decline.
hero member
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August 08, 2022, 03:11:07 PM
#28
It's not just about the USA but there are many other new oil suppliers that will try to act as an alternative and supply the oil of European countries because of the problem they have with Russia and the USA is just one of them, however, whenever we talk about supplying oil we should not forget about transferring oil to European countries Russia could easily send oil and gas without of any problem for years while there are many other suppliers like the Arabs and USA but comparing to Russia they are really far this will increase the shipping fees and in the result, the oil will become more expensive for Europe.
sr. member
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August 06, 2022, 07:26:09 PM
#27
Russia has long since turned its oil export market to Asia and no longer considers Europe as its important partner, Russia has overtaken Saudi Arabia to become the second largest oil supplier in India. It will hurt more for the EU if the EU completely cuts off oil supplies from Russia and it will increasingly rely on the grace of the US, more dependent on the US. This is what the US really wants.
There's still Norway, West Africa, Middle east. Until the import from Russia becomes illegal(Feb 2023) refiners would be buying from Russia like there's no tomorrow.

Anyhow, it's ironic because Russia has exported more oil than ever in this period and continues to make record profit. Almost making 25 billion dollars each passing month and it will continue to rise simply because everyone will be stocking before the ban. Giving Russia ample of time to develop relations with other non-EU countries to sell their oil at a better price.
Nothing will change for Russia.

Shows you how much hypocrisy there is within the EU  Wink
legendary
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August 06, 2022, 07:05:25 PM
#26
USA have big oil reserve which is being kept to handle unexpected needs. They always have a long term focus and work on it. As said, the infrastructure is not supportive as well as the supply is low compared to Russian oil. For some time period European countries need to sustain with what is available and the solution is through Gulf countries and not out of USA. European countries have moved to think with the alternate plans of solar energy generation which is quite good for long term than depending for oil.
hero member
Activity: 2828
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August 06, 2022, 06:24:02 PM
#25
There's a plethora of reasons why this shift wouldn't be so easy for the Europeans, much more the USA. The US is a country hugely dependent on oil, and even if they can produce what they needed and keep some of it on reserves, they still can't supply the demand of oil in EU. Most probably, these European countries would still be buying from the Russians as things ease out on the war. They'd just hide it under the rug and pretend that things didn't happen because they need that oil more than anything else in the world.
There were reasons why Russia was the supplier of Europe when it comes to gas and oil, it is close, pipelines were constructed and Russia has way more oil and gas than what they need, neither of those factors exist when it comes to the US, the US is too far away, there is no infrastructure ready and the US does not have enough oil and gas to spare for Europe, so while on the short term something could be done to alleviate somehow the energy crisis Europe is going through, it will never be the long term solution the European leaders are looking for.
hero member
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August 06, 2022, 05:22:03 PM
#24
Can I give you a peak into the crystal ball... to show you what is going to happen in the future?

1. The war between Russia and the Ukraine is going to end soon. (over time the EU is going to forget about this)
2. The EU will start to invest more into renewable energy alternatives. (Reducing their need to rely on Russian oil)
3. The Russians will find other countries to buy their oil. (Example : India and more African countries)

So in conclusion.... Russia will still sell the same amount of oil to other countries and the EU will still buy from them after the war, because their alternative solutions will take time to replace their need for oil.  Roll Eyes
Didn't know that you have a talent like that, to see the future lol but seriously war's between Russia and Ukraine can really end soon once they got bored or no other places to destroy anymore but no, EU and other countries aren't going to forget about the trauma that they built. EU can use renewable energies but I think it's not that efficient but they might still need the traditional oil but there are still countries where they can get oil not only in Russia.

The number 3 on your list is already happening. That was what Russia is doing during the time the sanctions are applied and maybe those countries who got the oil can resell it again to other countries for an extra price.
hero member
Activity: 2814
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August 06, 2022, 10:43:36 AM
#23
Thanks to Iran and Iraq.  Cheesy US is not a supplier according to my own opinion.
They are consumers. And because they lack the capability of producing oil, they tried to make war with the places where its abundant.
US supplying EU is a no go. I doubt it will happen. Even if US will make a promise to do so, EU will not believe it as it will also have a big expense for the pipelines.
It's not that I am a pro Russia but it's not just going to happen for Russia had colonized them in terms of oil supply.
hero member
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August 06, 2022, 09:41:48 AM
#22

We've had the issue of the Russians retaliating against all the sanctions imposed on them by threatening- if I can be allowed to use that word- to cut off supply of crude to the EU and the body deciding to reduce it's use and dependence on their oil. This sounds achievable, right? Fine..
 Over the years, the US have been known to have amassed a lot of crude oil and gas to last generations! US oil purchase history
In addition to licensing in drilling in the US, there are also problems with the level of demand, which of course the US has not been able to provide guarantees to the EU in the long term. As a producer, it is clear the US does not want to lose some of its main revenue. Even when Russia aggressively stops into the territory it deems to be non-allies, it only benefits Asian countries like China by getting cheap prices. The European Union is still dependent on Russia and is slowly easing its sanctions.
hero member
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August 06, 2022, 09:36:00 AM
#21
I am sure USA would love to be the energy supplier of Europe, but I don't think this a stable and long term solution for our energy crisis. There are several issues which will have strong political impacts in the future. First of all, fracking is not allowed in Europe because it's too harmful for the environment. As long as fracking is banned in Europe it seems very risky to import gas that comes from America. Right now everything is accepted because of the crisis and the Russia Ukraine war. But once things normalise there will be a stronger political opposition. Another issue is that Russian energy is so much cheaper than the one from USA. If Europe will stop buying all the energy from Russia than other countries will buy that cheap energy. This will hurt European companies who are already struggling with the high inflation. Once worker are being laid off the political pressure will rise again. I don't think USA will be the long term trade partner for energy with Europe.
legendary
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August 06, 2022, 08:17:56 AM
#20
Never, not under democratic administrations. It's now explicitly part of their platforms to be anti-energy. If a pro-oil and gas President came into office, they wouldn't produce enough oil to be a sole supplier, but they could increase global supply enough to ease restraints if they were compelled to. Current administration in the U.S. has no intentions on exporting energy. They would rather spend trillions in green climate change initiatives and see Europe beholden to the Russians.

It was said the US halted the companies to drill oil because they wanted to nationalize oil drilling and not about green energy. Sounds like a very conspiracy theory but they risked the economy when they stopped these companies from extracting oil. So how can they provide to EU if they have stopped drilling?  But I think EU had already source to come from Nigeria.

IMO they want to stop drilling all together and force big corporations to switch to green energy. There is no need to create a nationalizing of drilling. Granted, I have no idea of the actual reason Biden chose to halt new drilling leases at a time when Americans are facing record high fuel prices and when there's a global energy shortage, but I suppose that the green energy fanatics were able to sway him into siding with the environmentalist oppose to the working people.

If the U.S. could get away with nationalizing oil production, I suppose they would do so by weaponizing federal leasing permits, but my understanding of their oil drilling situation is that most drilling occurs on private lands. Perhaps could also reduce subsidies for oil and gas too.
hero member
Activity: 1694
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The Martian Child
August 06, 2022, 07:49:49 AM
#19
The US will be happy supplying Europe but it is more expensive than Russian oil and gas. It will be shipped across the Atlantic Ocean whereas Russian oil and gas have their own pipelines already connected to various countries in Europe. Europe will have no other choice but to accept US exports but it will be limited to short-term only as negotiations are ongoing in nearby oil and gas countries like the Middle East, North Africa, and Central Asian nations to build pipelines.

Taiwan is another issue but it will be bigger and might cause a world war. I am not sure if China is blockading it or if it is allowing trade routes to happen. Taiwan is another highly industrialized country needing a lot of energy and a blockade by China will put the US in a very tough and dangerous situation.
legendary
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August 06, 2022, 07:34:19 AM
#18
There's a plethora of reasons why this shift wouldn't be so easy for the Europeans, much more the USA. The US is a country hugely dependent on oil, and even if they can produce what they needed and keep some of it on reserves, they still can't supply the demand of oil in EU. Most probably, these European countries would still be buying from the Russians as things ease out on the war. They'd just hide it under the rug and pretend that things didn't happen because they need that oil more than anything else in the world.
legendary
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August 06, 2022, 06:55:23 AM
#17
Can I give you a peak into the crystal ball... to show you what is going to happen in the future?

1. The war between Russia and the Ukraine is going to end soon. (over time the EU is going to forget about this)
2. The EU will start to invest more into renewable energy alternatives. (Reducing their need to rely on Russian oil)
3. The Russians will find other countries to buy their oil. (Example : India and more African countries)

So in conclusion.... Russia will still sell the same amount of oil to other countries and the EU will still buy from them after the war, because their alternative solutions will take time to replace their need for oil.  Roll Eyes
copper member
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White Russian
August 06, 2022, 06:20:54 AM
#16
The situation with oil in the world is quite interesting, I will try to formulate my understanding, trying not to go far beyond the boundaries of my own competence.
1. There is quite a lot of oil in the world, but it becomes more and more difficult to extract it over time. The debit of operating wells is decreasing, the percentage of water cut of produced oil is increasing, it is difficult, long and expensive to explore new fields and drill new wells. The cost of produced oil is gradually increasing - and this is a global trend.
2. Oil is different. The Brent and Ural oil grades are widely heard, but I think few people know that the Ural oil grade is not produced in the Urals (although this would be quite logical), but is obtained by mixing in a certain proportion light low-sulfur West Siberian oil and heavy high-sulfur oil from Volga region. Different refineries in the world are designed for different grades of oil and you can't just change them to another grade of oil without a dramatic loss in productivity. Moreover, from a mixture of different grades of oil, different refineries make different end products - such as gasoline, aviation kerosene, ship fuel for tankers and bulk carriers, diesel fuel, plastics, etc. And for this reason, for example, the United States, which produces the most oil in the world, still cannot refuse oil supplies from Russia, because for some types of end products it is necessary to add a certain amount of heavy oil to the input of oil refineries, which even in the current situation is easier buy everything from Russia (and this is the reason why Biden recently had to conduct humiliating negotiations for the United States in Venezuela and Saudi Arabia).

In short, it is incorrect to talk about oil in terms of the number of barrels only.
legendary
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Assalamu Alekum
August 06, 2022, 05:05:57 AM
#15
I don't think EU has an option here, they can't just fill 40% of the demand from other sources in a day or even in a year.
It will take time to set up an alternative supply chain without jacking the prices up.

And even if EU cuts of Russia's supply, Russian oil still got plenty of buyers(China, India, other asian countries - almost limitless).

This will only hurt EU and no one else.

Russia has long since turned its oil export market to Asia and no longer considers Europe as its important partner, Russia has overtaken Saudi Arabia to become the second largest oil supplier in India. It will hurt more for the EU if the EU completely cuts off oil supplies from Russia and it will increasingly rely on the grace of the US, more dependent on the US. This is what the US really wants.
hero member
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August 06, 2022, 04:00:31 AM
#14

Having no pipeline going straight to EU from US will be costly as a supplier. It make sense for EU to look further down or make a deal with Russia. AFAIK they have already considered lifting sanctions to Russia because it all backfires to them.

There is the need to weigh the result of what they have done to what they shouldn't have done. The quest to find a solution has very limited time, whichever the season is they would need gas.
legendary
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August 06, 2022, 03:52:51 AM
#13
this means and become the only supplier to the EU, it could cause a big deal between the US and Russia. But the question there will be; can they risk it?

I feel that you've left whole Arabia out of equation.

While the Arabs are extracting big time (they do need the money for developing), US tends to keep reserves, as you said, for generations. Keep in mind that it's not only cars, trucks, ships, planes need oil. Keep in mind that your clothes also contain a fair share of oil-based products, and it's just an example. US will keep its industries going for long.

So I don't think that US will become "the only supplier of oil for EU". At least not for long.
full member
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August 06, 2022, 03:35:05 AM
#12
As far as I know, the barrels of oil that the United States has strategically stored belong to China. And with the control by economic sanctions, I see that both the US and the EU have gradually failed to control Russia, proof that it is still strong and resilient after sanctions and strong retaliation, causing the other side's economy to be weaker.
legendary
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August 06, 2022, 03:05:15 AM
#11
  With all the ruckus surrounding America right now; their part in the Taiwan issue and also their less than secret partnership with the Ukrainians, I think it's safe to say that Biden has a lot on his plate. But how about we add more??
 We've had the issue of the Russians retaliating against all the sanctions imposed on them by threatening- if I can be allowed to use that word- to cut off supply of crude to the EU and the body deciding to reduce it's use and dependence on their oil. This sounds achievable, right? Fine..
 Over the years, the US have been known to have amassed a lot of crude oil and gas to last generations! US oil purchase history

 And Russia has earned almost a $100bn just from sales to the EU. Correct me if I'm wrong, but I think it's from such means they are being able to foster the war, so if the US can block this means and become the only supplier to the EU, it could cause a big deal between the US and Russia. But the question there will be; can they risk it?

Unless we figure out a way to get a pipeline from America to Europe, which seems like a rather impossible undertaking to do safely, then it will never be able to replace the sheer convenience of Russian oil. It means that any oil or gas that is coming from America has to be shipped via boat and it can only hold a fraction of the capacity. It seems like taking oil and gas from Africa via pipelines, or even trying to figure out a pipeline through to producers in the middle east would be the next best option. For now it seems like Europe has to settle on a lot more shipping and it seems best to try to convert everything over to renewable energy as quick as possible.
sr. member
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Bitcoindata.science
August 06, 2022, 02:53:55 AM
#10
Russians already are prepared to shut down Nord stream 1 pipeline and as the heat of the sanctions keep heating on the Russians
they are aware their oil and gas supply to the Europe will remain indispensable  and if they cut off supplies as well it will weaken the entire industrial production and cause a hike in commodity prices. This standing as the Russians defence mechanism against the sanctions since they have other supply channels.

I think it will take a long while to build a channel from Europe to the US or any other alternate source and definitely depreciate the EURO. But Europe has to face it once and for all take up what ever regulations the US might offer to save their economy on the long run
legendary
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August 06, 2022, 02:53:43 AM
#9
In fact, the dependence on oil, on Russian oil, is not critical for the EU: "The export of oil and oil products from Russia to Europe in January 2022 amounted to just over 4 million barrels per day (b / d), but by May it fell to about 3 million b/d, due to voluntary failures of companies and decisions of individual governments." https://meduza.io/cards/evropa-otkazhetsya-ot-90-nefti-kotoruyu-pokupaet-v-rossii-s-rossiyskoy-ekonomikoy-mozhno-poproschatsya

Given that Saudi Arabia is increasing production by almost 3 million barrels per day. True, not immediately, but within 2 years, starting with +1 million barrels "already today." The US is increasing shale oil production. also over 1 million barrels per day. With a high probability, oil from other supplying countries will also enter the market. All this will quite quickly FULLY cut off the entire volume of oil supplies from a terrorist country (including an economic terrorist), including even pipelines.
No need to escalate the situation, where there are no problems Smiley

As long as we don't make fools of ourselves, as in this other case, I'm fine with it:

LMAO: India resells Russian oil to the European Union.


What I think we also have to do, as I have said in other threads, is to increase our energy production so that we are not so dependent on third countries. In that sense, increasing energy production from renewables is fine, but it does not solve our problems. We will have to increase nuclear capacity for sure.
legendary
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August 06, 2022, 02:36:18 AM
#8
I don't think EU has an option here, they can't just fill 40% of the demand from other sources in a day or even in a year.
It will take time to set up an alternative supply chain without jacking the prices up.

And even if EU cuts of Russia's supply, Russian oil still got plenty of buyers(China, India, other asian countries - almost limitless).

This will only hurt EU and no one else.

In fact, the dependence on oil, on Russian oil, is not critical for the EU: "The export of oil and oil products from Russia to Europe in January 2022 amounted to just over 4 million barrels per day (b / d), but by May it fell to about 3 million b/d, due to voluntary failures of companies and decisions of individual governments." https://meduza.io/cards/evropa-otkazhetsya-ot-90-nefti-kotoruyu-pokupaet-v-rossii-s-rossiyskoy-ekonomikoy-mozhno-poproschatsya

Given that Saudi Arabia is increasing production by almost 3 million barrels per day. True, not immediately, but within 2 years, starting with +1 million barrels "already today." The US is increasing shale oil production. also over 1 million barrels per day. With a high probability, oil from other supplying countries will also enter the market. All this will quite quickly FULLY cut off the entire volume of oil supplies from a terrorist country (including an economic terrorist), including even pipelines.
No need to escalate the situation, where there are no problems Smiley
hero member
Activity: 2870
Merit: 612
August 06, 2022, 01:30:20 AM
#7
Never, not under democratic administrations. It's now explicitly part of their platforms to be anti-energy. If a pro-oil and gas President came into office, they wouldn't produce enough oil to be a sole supplier, but they could increase global supply enough to ease restraints if they were compelled to. Current administration in the U.S. has no intentions on exporting energy. They would rather spend trillions in green climate change initiatives and see Europe beholden to the Russians.

It was said the US halted the companies to drill oil because they wanted to nationalize oil drilling and not about green energy. Sounds like a very conspiracy theory but they risked the economy when they stopped these companies from extracting oil. So how can they provide to EU if they have stopped drilling?  But I think EU had already source to come from Nigeria.
legendary
Activity: 2730
Merit: 1512
August 06, 2022, 01:06:32 AM
#6
Never, not under democratic administrations. It's now explicitly part of their platforms to be anti-energy. If a pro-oil and gas President came into office, they wouldn't produce enough oil to be a sole supplier, but they could increase global supply enough to ease restraints if they were compelled to. Current administration in the U.S. has no intentions on exporting energy. They would rather spend trillions in green climate change initiatives and see Europe beholden to the Russians.
legendary
Activity: 2506
Merit: 1823
🙏🏼Padayon...🙏
August 05, 2022, 11:14:04 PM
#5
I don't think the US alone could do that. The US can't probably make up for what Russia supplies to the entire EU should EU decide to completely cut oil dependence from Russia. But the US has some allies that will probably come together to support EU's demand if asked to. After all, it's not only Russia that is rich in oil. But, in truth, I doubt if EU will totally cut off Russia's oil supply in the region. Not only is its effect more or less impossible to bear, some EU countries will probably not agree.
full member
Activity: 2016
Merit: 180
Chainjoes.com
August 05, 2022, 11:12:10 PM
#4
I don't think EU has an option here, they can't just fill 40% of the demand from other sources in a day or even in a year.
It will take time to set up an alternative supply chain without jacking the prices up.

And even if EU cuts of Russia's supply, Russian oil still got plenty of buyers(China, India, other asian countries - almost limitless).

This will only hurt EU and no one else.
In the current difficult situation, it is necessary to look at the energy needs of Europe much more broadly. For too long, the countries of Europe have tolerated energy dependence on Russia, which has constantly used it as a means of pressure on them to solve its economic and political problems. Now Russia is directly using them as weapons. With this in mind, the EU decided once and for all to abandon such dependence, even if at first they will suffer some material losses. Therefore, now there is a global reorientation of oil and gas suppliers to Europe. Europe is doing this, and doing it quite successfully. Yes, Russia will be able to supply its oil and gas to China, India and Asian countries. But the needs there are not very large, and it will need to reconfigure transport routes in the same way as Europe. But for Russia, this will mean the loss of the European market FOREVER.
legendary
Activity: 2562
Merit: 1441
August 05, 2022, 07:38:29 PM
#3
The united states role as a global manufacturer being greatly diminished. There isn't a supply chain in place to transport goods from america to europe. European tariffs and taxes on american commodities are very high. Enough to make importation of american oil an unprofitable business via default.

A shift in oil supply cannot occur without significant taxation & law adjustments in the EU hierarchy.

Then there are other impediments to this happening in the united states. Permits to drill for oil in the USA are not being given a green light. Oil pipelines are not running and have been shut down.

There's a long list of things that would need to happen for the US to import oil into the EU. Most believe they're better off not knowing what any of those things are. Which makes it even harder to resolve the problems we face.
sr. member
Activity: 1064
Merit: 382
Hurrah for Karamazov!
August 05, 2022, 07:26:58 PM
#2
I don't think EU has an option here, they can't just fill 40% of the demand from other sources in a day or even in a year.
It will take time to set up an alternative supply chain without jacking the prices up.

And even if EU cuts off Russia's supply, Russian oil still got plenty of buyers(China, India, other asian countries - almost limitless).

This will only hurt EU and no one else.
hero member
Activity: 742
Merit: 578
August 05, 2022, 06:47:38 PM
#1
  With all the ruckus surrounding America right now; their part in the Taiwan issue and also their less than secret partnership with the Ukrainians, I think it's safe to say that Biden has a lot on his plate. But how about we add more??
 We've had the issue of the Russians retaliating against all the sanctions imposed on them by threatening- if I can be allowed to use that word- to cut off supply of crude to the EU and the body deciding to reduce it's use and dependence on their oil. This sounds achievable, right? Fine..
 Over the years, the US have been known to have amassed a lot of crude oil and gas to last generations! US oil purchase history

 And Russia has earned almost a $100bn just from sales to the EU. Correct me if I'm wrong, but I think it's from such means they are being able to foster the war, so if the US can block this means and become the only supplier to the EU, it could cause a big deal between the US and Russia. But the question there will be; can they risk it?
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