The real cost of oil

[Shaun @ Tru6]

has anyone ever done/seen an analysis on the cost of a barrel of oil when loaded with cost of doing business with the Middle East, i.e., Military expenditures to keep the region stable?

[Mule]

So you're for opening up the USA for drilling?

[kach22i]

I read something a few years ago, there was a huge "X" factor. I mean a "times factor".

I'm going to guess that the Libertarians, some of the truly conservative think tanks or someone like Ron Paul has calculated it before.

[m21sniper]

If the US Military doesn't keep the oil routes open for ALL THOSE IN THE WESTERN WORLD TO USE, who exactly is going to do it? If the US doesn't protect our largest suppliers free from invasion, etc....who is going to do it?

Greenpeace? The French? The Easter Bunny?

[Jim Richards]

Maybe the rest of the world can pay us for this service.

[Shaun @ Tru6]

Do you think $10,000 per barrel is too low?

[ronin]

you're right. time to drill in ANWR

[m21sniper]

Originally Posted by Jim Richards

Maybe the rest of the world can pay us for this service.

That would be great, and others have proposed it in the past.

It would certainly solve our deficit problems in a hurry.

Originally Posted by Shawn

Do you think $10,000 per barrel is too low?

How much is the cost of freedom worth to you?
We should drill here- whatever the number is, it would be less.

[dipso]

Originally Posted by m21sniper

If the US Military doesn't keep the oil routes open for ALL THOSE IN THE WESTERN WORLD TO USE, who exactly is going to do it? If the US doesn't protect our largest suppliers free from invasion, etc....who is going to do it?

Greenpeace? The French? The Easter Bunny?

Here is the breakdown of where we get our oil. You might be surprised.
The western world has plenty of oil. We're not protecting, we're stealing. Well, at least they thought they could.


Crude Oil and Total Petroleum Imports Top 15 Countries


May 2008 Import Highlights: July 14, 2008
Preliminary monthly data on the origins of crude oil imports in May 2008 has been released and it shows that two countries exported more than 1.50 million barrels per day to the United States. Including those countries, a total of two countries exported over 1.20 million barrels per day of crude oil to the United States (see table below). The top five exporting countries accounted for 66 percent of United States crude oil imports in May while the top ten sources accounted for approximately 88 percent of all U.S. crude oil imports. The top sources of US crude oil imports for May were Canada (1.840 million barrels per day), Saudi Arabia (1.579 million barrels per day), Mexico (1.116 million barrels per day), Venezuela (1.030 million barrels per day), and Nigeria (0.851 million barrels per day). The rest of the top ten sources, in order, were Iraq (0.583 million barrels per day), Angola (0.464 million barrels per day), Algeria (0.440 million barrels per day), Brazil (0.318 million barrels per day), and Kuwait (0.263 million barrels per day). Total crude oil imports averaged 9.657 million barrels per day in May, which is a decrease of (0.264) million barrels per day from April 2008. Total crude imports for May include 0.033 million barrels per day for Strategic Petroleum Reserves (SPR).

Canada remained the largest exporter of total petroleum in May, exporting 2.265 million barrels per day to the United States, which is a decrease from last month (2.534 thousand barrels per day). The second largest exporter of total petroleum was Saudi Arabia with 1.604 million barrels per day.

Crude Oil Imports (Top 15 Countries)
(Thousand Barrels per Day)
Country May-08 Apr-08 YTD 2008 May-07 YTD 2007
CANADA 1,840 1,952 1,889 1,821 1,841
SAUDI ARABIA 1,579 1,453 1,531 1,574 1,402
MEXICO 1,116 1,259 1,207 1,461 1,469
VENEZUELA 1,030 1,019 998 1,232 1,103
NIGERIA 851 1,115 1,053 882 1,047
IRAQ 583 679 670 341 458
ANGOLA 464 579 468 680 581
ALGERIA 440 393 329 496 495
BRAZIL 318 201 209 152 170
KUWAIT 263 176 227 162 182
COLOMBIA 245 149 184 104 101
ECUADOR 162 160 194 201 200
RUSSIA 119 106 86 232 156
LIBYA 96 85 73 33 51
EQUATORIAL GUINEA 93 40 58 0 52


http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html

[stomachmonkey]

Well then why are we not invading Canada?

It's closer AND has bottomless strip clubs.

[stomachmonkey]

Well then why are we not invading Canada?

It's closer AND has bottomless strip clubs.

[dipso]

Originally Posted by stomachmonkey

Well then why are we not invading Canada?

It's closer AND has bottomless strip clubs.

And yellowcake uranium.

Bottomless strip clubs? You mean they go on for ever. We need to investigate further, I'll get to the bottom of this.

[Mule]

This thread should be re-titled lefties support more US drilling.

[Jim Richards]

Drilling at Canadian bottomless strip clubs!

[m21sniper]

As long as we can use dispo's bald head for the drill bit, i'd support drilling anywhere.

[island911]

that dull thing?

[DaveE]

Originally Posted by Jim Richards

Drilling at Canadian bottomless strip clubs!

I'll be in Toronto in mid-August and am willing to investigate this.

[Kirk911SC]

Brass Rail on Yonge Street.

or so I've heard........

[DaveE]

Originally Posted by Kirk911SC

Brass Rail on Yonge Street.

or so I've heard........

Thank You!

[RWebb]

Shaun - yes, that has been done. Not sure where I saw it. I guess you could just add the IRaq war costs and get a low boundary, with all US MIl. budget added to get a high b'dy.

And, yup, we protect the oil -- and other things - for all our allies. Not for the whole world. Would we particularly care if Zimbabwe's oil got cut off? IF Iran's was? IRan has crude but little refining capacity.