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Has overtaken Saudi Arabia as nation with largest proven oil reserves. Although it is 'heavy' oil, the 'brown coal' of liquid fossil reserves (i.e. low quality
by briansm 9mo ago
Has overtaken Saudi Arabia as nation with largest proven oil reserves.
Although it is 'heavy' oil, the 'brown coal' of liquid fossil reserves (i.e. low quality).
The fact that such a fuss is being made about low-grade oil is a concern in itself.
- badosu 9mo ago> The fact that such a fuss is being made about low-grade oil is a concern in itself. Keep in mind there's a lot of 'idle' refining capacity at the southeastern coast of the US which was built for heavy oil.
- stevenwoo 9mo agoMost of the USA's refineries specialize in low grade oil. The best grade oil is often shipped out of the USA for refining. Shipping costs are so low on a grand scale that it's more profitable to ship the USA's high quality oil overseas than building new refineries in the USA just for that: https://www.marketplace.org/story/2024/05/13/the-u-s-exports-more-petroleum-than-it-imports-so-why-are-we-importing-at-all https://www.marketplace.org/story/2024/05/13/the-u-s-exports...