8 ms·
The US is still oil independent - the keystone pipeline didn't change a thing in that regard (how could it? If you can ship oil from Russia, you can ship it fro
by XorNot 5y ago
The US is still oil independent - the keystone pipeline didn't change a thing in that regard (how could it? If you can ship oil from Russia, you can ship it from slightly further north in your own continent.
Oil is a fungible commodity though: the price is effected by global demand - as I noted in a previous thread on this exact subject, the idea of "independence" and "dependence" both mean nothing so long as private enterprise can own the resource and faces no restrictions on its export.
- zthrowaway 5y agoOkay, makes sense. But how does that negate us giving Russia a war chest of money the past year?
- ModernMech 5y agoThey’ve been seizing all of that money. It’s mostly unavailable at this point.
- rsfern 5y agoIf you mean Russian oil exports, I thought the bulk of those went to Europe and China. It looks like 8 or 9% of US oil imports have been coming from Russia. About half our imports are from Canada. I’m not sure what percentage of US oil usage would be Russian import, but it doesn’t seem like “war chest” level? 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... Edit: on further inspection, it does seem like a large dollar amount. And if you look at 2019 numbers, we imported a much larger fraction from Russia than in 2021. I still think much more Russian oil goes to Europe