4 ms·
A friend of mine told me that she owns shares in several oil wells in Kansas and Oklahoma. They were originally bought by her father back in the 1950s. She to
by VWWHFSfQ 5y ago
A friend of mine told me that she owns shares in several oil wells in Kansas and Oklahoma. They were originally bought by her father back in the 1950s. She told me that her father was a Korean War veteran and they were presented some opportunities to purchase these shares in lieu of some other kind of money the government was going to give them. I don't know what it was, she didn't say.
But she did say that for basically her entire life (after her father passed away) she's been receiving checks from the oil companies. Usually very small like $40 a month. But sometimes, when USA gets into an oil war and they start pumping their own domestic oil, she gets monthly checks for ~$1,500.
I would be curious to know how much crude USA buys from Canada instead of pumping it domestically. I guess all the domestic oil is part of the strategic oil reserves though.
- snacktaster 5y agoThe US imports most of its crude oil from Canada and Mexico [0], but mostly from Canada. There's been a persistent, but false, narrative that the US needs oil from the Middle East. The US' concern with the oil in the Middle East is mostly to _protect_ the supply to Europe, and _control_ the supply to China. The US has never needed oil from Saudi Arabia. [0] https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php https://www.eia.gov/energyexplained/oil-and-petroleum-produc...
- clairity 5y agothe US also cares because oil is fungible, and as a result, pricing happens at the global margins, not just between north american countries.