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Replies to #196092 on Just Politics
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DragonBear

01/18/21 12:21 PM

#196116 RE: BullNBear52 #196092

Our oil and gas comes out of the gulf with a direct pipeline and if that is not enough we import from the KSA along with a little fracking.

The key to remember is the PADD 3 refineries no doubt would like Canadian heavy. But Canada is under no obligation to sell it to us. Thus PADD 3 stays wedded to heavy oil, as in KSA heavy oil. Some US light oil goes to PADD 2 (Midwest), and a little to PADD 1 East Coast. Demand for US light oil is mostly external. Be it S America, or the EU. In competition with OPEC light oil.

US oil independent? No, we're very depended on external OPEC, and Canadian heavy oil. No matter how much frac oil is produced.