U.S. refiners have turned to Russian oil and petroleum products to fill the gap that sanctioned Venezuelan crude and drastically reduced OPEC shipments have left in U.S. imports, despite the energy standoff between the United States and Russia.
In 2020, the U.S. imported more oil and refined products from Russian than from Saudi Arabia, with Russia’s share of American oil exports at a record-high 7 percent, Bloomberg News has estimated based on customs and EIA data.
Russia mostly displaced the market previously held by Venezuela—now unable to sell its heavy oil to U.S. refiners because of the American sanctions on Nicolas Maduro’s regime.
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WNU Editor: On the one hand the US is telling Germany to stop importing natural gas from Russia .... U.S. Warns Germany That It Will Face Sanctions If They Continue To Build The Nord Stream II Pipeline With Russia. But on the other hand the U.S. is importing oil from Russia. You just cannot make this stuff up.
10 comments:
Because we have too many smart, college educated dolts in Washington.
Increased under Trump. Let us see what happens now
Importing oil from Russia.
Trying to stop Germany from importing natural gas from Russia
Cancelling Keystone XL (which could easily replace Venezuelan heavy oil & from an ally as a bonus)
Allowing train transport (partially & expensively with added CO2 emissions) to transport oil south, instead of XL.
Is anybody in charge down there?
You're right under Trump domestic oil production increased and of course so did the lying of our so- called educated betters!
Apples to oranges comparison. In the case of the USA, Russia has a minuscule percentage of our imports. Germany once NS2 is finished will be getting over 50% of its nat gas imports from Russia. A Russian cutoff of oil to the USA means nothing. A Russian cutoff to Germany in the winter is life or death to Germans. Leverage.
Despite the U.S. becoming a net petroleum exporter, most regions are still net importers
"In November 2019, the United States exported 772,000 barrels per day (b/d) more petroleum (crude oil and petroleum products) than it imported"
Someone who is illiterate like your typical socialist would not know that petroleum products have a higher mark up than raw crude. It is that little concept called "value added".
From the graphs it is apparent that east coast liberals better get on their knees, whenever a Russian drops trow. Most socialists dream of such a situaiton.
Trump more than doubled the U.S. current account deficit
If 4:37 is Fred he will never admit it.
What Is a Current Account Deficit?
The current account deficit is a measurement of a country’s trade where the value of the goods and services it imports exceeds the value of the products it exports. The current account includes net income, such as interest and dividends, and transfers, such as foreign aid, although these components make up only a small percentage of the total current account. The current account represents a country’s foreign transactions and, like the capital account, is a component of a country’s balance of payments (BOP).
www.investopedia.com/terms/c/currentaccountdeficit.asp
https://tradingeconomics.com/united-states/current-account
Of course Axios lied and 4:37 was right there to lap up the vomit.
Tell us 4:37. did you buy an iPhone, computer or other electronics? Then you are part of the problem. Not the the president.
You know what happened in 2012 when Egypt's Current Account Deficit went too high for to long? Obama's beloved Muslim Brotherhood was forced from power. the same will happen to the Us. This has been pointed out for 2 decades now.
Only now are you talking about it because you go it form a liberal rag to parrot like the fool that you are.
Keep lying, that WAPO job is still there.
As usual the contradictions abound with nary a reddened cheek.
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