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> not like it is hard for the US military to track massive tankers in a small sea We're not hitting their tankers for the same reason we are suspending sanctio
by JumpCrisscross 8mo ago
> not like it is hard for the US military to track massive tankers in a small sea
We're not hitting their tankers for the same reason we are suspending sanctions on Russian oil. It's a desperate bid to keep prices at the pump down.
- srean 8mo agoCurious, at what price per barrel does US oil fields get profitable? For their own domestic consumption they don't really need the Irani oil do they ? It seems to be the case that it's rest of the world that needs the oil and US needs the rest of the world to not be pissed at the US.
- JumpCrisscross 8mo ago> at what price per barrel does US oil fields get profitable? $30 to 70 per barrel [1]. (Pretty much all production is profitable above $100/barrel.) > they don't really need the Irani oil do they ? Our refineries can't process our own crude. So we export crude and import refined products. That said, yes, the oil exports do blunt the net effect of the blow. If pressure really rose, one could tax the excess profits to directly reduce gas prices. [1] https://www.opxai.com/why-your-oilfield-will-fail-at-60-oil-unless-you-fire-your-reactive-mindset/ https://www.opxai.com/why-your-oilfield-will-fail-at-60-oil-...
- srean 8mo agoOh thanks. Did not know about the refining bit.