Import of Saudi oil to US remains high despite overall decline

Fuel Fix:
...
Such a seismic change in domestic production has left the US needing to import much less oil. This has been no worse felt than by Nigeria and Algeria (hark, both in OPEC), whose oil exports to the US have fallen by 93% since 2010.

That said, while Nigeria has seen its oil imports drop to virtually zero in recent years (hark, brown line below), Saudi Arabia (blue line) has seen its own imports hold relatively more stable:
This is in part due to Saudi’s self interest in the Gulf Coast region. After all, the largest US refinery is at Port Arthur and is owned by Motiva Enterprises, a joint venture between Saudi Aramco and Shell. Motiva is also the third largest refiner on the Gulf Coast.
...
There is much more.

This explains in part why the Saudis see no need to cut back their production while others in OPEC have seen their sales drop as a result of fewer US imports.  In short the Saudi investment in US refining is paying off in a time of decreased demand.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

Is the F-35 obsolete?

Headline USA: Pentagon Fires Back after Musk Calls Its Most Expensive Project ‘Obsolete’ 'Yeah, as I'm sure you can appreciate, Mr. Musk is, currently, a private citizen, I'm not going to make any comments about what a private citizen may have to say about the F-35....'   ... ... Drones appear to be replacing jets for many operations.  The Russia-Ukraine war is an example of that.  Drones are often hard to detect and can be used for intelligence operations as well as for attacking enemy targets.  It would not surprise me to see drones engaging other drones in combat.  They also cost much less than manned fighters.  
Read more

Apple's huge investment in US including Texas facility

Blaze: Apple announced a $500 billion commitment to infrastructure in the United States over four years, its largest commitment to domestic spending to date. Apple said it will expand teams and facilities in Arizona, California, Iowa, Michigan, Nevada, North Carolina, Oregon, Texas, and Washington as part of its new spending. With a new facility in Houston, Texas, Apple will reportedly double its investment in advanced manufacturing along with increasing investments in AI and silicon engineering. The company said in a press release that the Houston facility will produce servers to support Apple Intelligence, the "personal intelligence system that helps users write, express themselves, and get things done." ... The Texas facility will be for advanced technologies.   Texas has become a place that is very supportive of the tech industries.  Austin and Houston have seen much of the tech growth in the state.  Texas universities have been active in the AI field.
Read more