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I second the Yergin recommendation but don't understand this: > Right now the US seems to be using oil exports to weaken other countries, rather than banking t
by thinkcontext 8y ago
I second the Yergin recommendation but don't understand this:
> Right now the US seems to be using oil exports to weaken other countries, rather than banking the oil and exploiting it when supply starts to dry up. I also think that some methods aren't long-term a good idea.
The US is still a net importer. It exports some because its refineries are more setup for heavy grade imports. The light, sweet crude from its newer shale efforts command a premium price on the world market from those refineries that are less able to handle heavy crude, so are exported.
See for example:
https://www.cnbc.com/2018/04/17/shale-oil-has-a-refining-problem-and-morgan-stanley-smells-opportunity.html https://www.cnbc.com/2018/04/17/shale-oil-has-a-refining-pro...
What reason do you have for saying oil exports are being used to weaken other countries?
- dekhn 8y agohttps://www.nytimes.com/2018/01/28/business/energy-environment/oil-boom.html https://www.nytimes.com/2018/01/28/business/energy-environme... (see quotes from Yergin and others explaining why they think that US exporting has economic impacts on OPEC and other exporters).
- thinkcontext 8y ago"used to weaken" and "has economic impact" are very different things.