4 ms·
USA meanwhile 10% of oil imports are from Russia - more than from Saudi. https://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbbl_m.htm https://www.eia
by rr808 5y ago
USA meanwhile 10% of oil imports are from Russia - more than from Saudi. https://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbbl_m.htm https://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0...
- chasd00 5y agonow that oil is so expensive shouldn't all the fracking wells come back online? i thought for sure there was a price ceiling on a barrel of oil at around $75. Maybe it happened too fast to bring that capacity back online?
- graphpercolator 5y agoFor sure. $100 dollar oil makes a ton of supply profitable. It just won't be here tomorrow though.
- dghughes 5y agoAnd 20% from Canada, it's dirty oil but I bet it could be bumped to 30%.
- oh_sigh 5y agoThat's a bit different though. Germany is mostly importing finished products (natgas) from Russia. This is like Russia sending bread to Germany and Germany is eating the bread. Whereas Russia is sending the US unfinished products (crude). The US is then refining the crude and selling it to someone else. This is like Russia sending wheat to the US, the US making bread out of it, and then selling the bread. It's much easier to stop baking and selling bread than it is to stop eating bread (if that is all you're eating).