OT: OT Thread Part 7: Where the Only Off Off Topic is Politics (Well Not Literally!)

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oilers'72

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Jul 3, 2006
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Red Deer, Alta

MoontoScott

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Jun 2, 2012
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Good job keeping that oil in the ground!

It's amazing how (on a weekly basis) I hear all kinds of people tell me that the oil industry is dying and within a few years it will all be over.

This simple graph (from the standard bearer of oil stats in the USA-- the EIA) tells a very different story. In any business when you have doubled your exports in the last decade then the industry is certainly not dying.

Ironically, much of the oil that is produced in the "fracking" business in the USA is too "light" (carbon/hydrogen ratio is too low) and can't be used in many American factories and refineries so heavy oil is a vital import.

In the past, Canadian heavy crude competed with Venezuelan heavy oil but with Venezuela collapsing the buyers have turned towards a more reliable source which of course is Canada.

So Biden has put the clamps on the type of oil that his country is short of but no matter--- the oil (as the graph has shown) will find its way South even if it is on donkey back.

No Keystone, no big problem.
 
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