Reply to $7/gallon gas is coming

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Reply to "$7/gallon gas is coming"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I love how we’ve reached the point where Venezuela and Iran are the attractive options to alleviate the oil problem.  If only we had massive quantities of accesible oil in the USA and Canada.  I guess we’d rather help Iran and VZ than help the MAGAs.  [/quote]

Neither of them are any worse than the Saudis, which is the source that was keeping oil prices low for the last several years.  There is no substantial low cost oil in the US or Canada.  Those are high cost options that can only be profitable at consistently high oil prices.[/quote]

That is not true.  Or more precisely it's complicated.  American shale is mid range in terms of production cost.  But the problem is that is sweet and our ancient refineries are set up for sour.  Saudi produces sour and has very low production costs.  The main problem is not oil it is refineries.  We havent built a new refinery since Jimmy Carter.  We've even lost refineries since the pandemic.  Frankly we need more refineries and we need refineries that can process the grade of oil that we produce.[/quote]

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