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Originally Posted by Brown67
Means nothing; because oil is a fungible commodity. Think of it this way. All the oil in the world goes into one large barrel. Because the same amount of oil is still going into the barrel nothing will happen to the overall price of oil. We'll just get it from somewhere else. Prices only go up or down based on how much total oil is in the world barrel.
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Where we get our oil has everyting to do with the price we pay at the pump. Oil imported from Venezuela, travels less than 3,500 miles on a vessel, to reach the furthest refineries, on the east coast. To say we can replace the 18% of our daily consumption,imported from Venezuela, by purchasing oil from the middle east, is to say, "I'm willing to pay $5.75 per gallon, for fuel!"
Just like dry goods and automobiles, someone is going to pay the transportation costs for oil...and it is not going to be any of the oil company's.
It cost's more to haul oil from the middle east, than it does from the Caribbean.
From ;
http://www.eia.doe.gov/pub/oil_gas/p...nt/import.html
Crude Oil and Total Petroleum Imports Top 15 Countries
November 2007 Import Highlights: Released on January 29, 2008
Monthly data on the origins of crude oil imports in November 2007 has been released and it shows that two countries exported more than 1.50 million barrels per day to the United States. Including that country, a total of five countries exported over 1.00 million barrels per day of crude oil to the United States (see table below). The top five exporting countries accounted for 74 percent of United States crude oil imports in November while the top ten sources accounted for approximately 89 percent of all U.S. crude oil imports. The top sources of US crude oil imports for November were Canada (1.919 million barrels per day), Saudi Arabia (1.530 million barrels per day), Mexico (1.484 million barrels per day), Nigeria (1.245 million barrels per day), and Venezuela (1.227 million barrels per day). The rest of the top ten sources, in order, were Iraq (0.508 million barrels per day), Angola (0.408 million barrels per day), Colombia (0.197 million barrels per day), Algeria (0.184 million barrels per day), and Ecuador (0.154 million barrels per day). Total crude oil imports averaged 9.978 million barrels per day in November, which is an increase of 0.202 million barrels per day from October 2007.
Canada remained the largest exporter of total petroleum in November, exporting 2.431 million barrels per day to the United States, which is an increase from last month (2.411 thousand barrels per day). The second largest exporter of total petroleum was Saudi Arabia with 1.620 million barrels per day.
Crude Oil Imports (Top 15 Countries)
(Thousand Barrels per Day)
Country Nov-07 Oct-07 YTD 2007 Nov-06 Jan - Nov 2006
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CANADA 1,919 1,889 1,872 2,093 1,800
SAUDI ARABIA 1,530 1,370 1,432 1,460 1,418
MEXICO 1,484 1,322 1,426 1,459 1,608
VENEZUELA 1,227 1,221 1,141 1,088 1,152
NIGERIA 1,215 1,184 1,067 917 1,040
IRAQ 508 490 495 573 566
ANGOLA 408 342 502 505 504
COLOMBIA 197 164 139 42 148
ALGERIA 184 213 452 253 357
ECUADOR 154 222 198 246 275
KUWAIT 154 150 178 253 180
CHAD 107 93 75 118 93
ARGENTINA 86 26 32 0 30
RUSSIA 81 118 120 16 105
BRAZIL 78 172 167 156 134
Total Imports of Petroleum (Top 15 Countries)
(Thousand Barrels per Day)
Country Nov-07 Oct-07 YTD 2007 Nov-06 Jan - Nov 2006
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CANADA 2,428 2,411 2,431 2,637 2,343
MEXICO 1,581 1,417 1,553 1,591 1,737
SAUDI ARABIA 1,609 1,400 1,470 1,507 1,461
VENEZUELA 1,375 1,388 1,359 1,281 1,433
NIGERIA 1,276 1,241 1,116 970 1,118
IRAQ 508 490 495 573 566
RUSSIA 466 452 422 223 369
ALGERIA 447 410 677 462 657
VIRGIN ISLANDS 414 357 342 337 327
ANGOLA 408 342 513 521 526
UNITED KINGDOM 202 287 281 265 279
ECUADOR 161 230 203 251 282
BRAZIL 88 197 204 182 195
NETHERLANDS 58 175 124 152 181
COLOMBIA 219 175 157 46 162
Note: The data in the tables above exclude oil imports into the U.S. territories.
Maybe Chavez thinks everybody in the United States is so completely lazy and ignorant, that nobody knows how much oil revenue from America he derives in income.
Every single penny of profit that CITGO generates, here in America (which is a huge percentage of CITGO's profit)goes directly into the coffers of PDVSA.
How many American's know that?
There are a lot of CITGO stations out there. Some of the property owners, who are franchised under the CITGO logo, have sign's out in front of their business, stating that "They", that particular business, are "American Owned & Operated", trying to seperate their business from Chavez.
Other Franchisee's, whom do not want to be associated with Chavez, have discontinued their arrangements with CITGO and branded over to Valero, ConocoPhillips, Shell, ExxonMobil, or any of the others which would brand their gas.
The other communist owned oil company operating in the US is LUKOIL.
TOTAL (FINA) could be considered communist also...it is a French company.
I'm just sayin.
