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Discussion in 'Energy, Environment, and Policy' started by tonybelding, Sep 17, 2007.
Yeah, not only do they have a lot of oil, they have a lot of sunshine and empty land too...
Very smart on their part. Why waste your most precious resource on yourself when you can sell it?
How much oil do they actually use for electricity generation though?
<cynic>Then they'll use it to make hydrogen and sell that to us too</cynic>
I've been wondering if there wouldn't be an interesting relationship between peek oil and refinery investment. A refinery is a major capital object which needs decades to operate. Margins are thin and probably just going to get thinner. I keep reading about refineries being sold off even while the U.S. is exporting more refined products. Who would build a refinery when oil will not be affordable in a few years? U.S. consumption is down, but will it stay that way? Is smart money dumping refineries?
A casual search suggests that politics will find a way to keep refining profitable. From offering use of federal land, to shortened depreciation schedules.
Crack spread - Wikipedia, the free encyclopedia
The Crack Spread: Theoretical Oil Margins Near 2-Year Highs - Seeking Alpha
Going For Profits Off The 'Crack Spread' - Seeking Alpha
"Crack spread" is a great double-entendre -- reminds us of our "addiction to oil."
JP wrote 18 Oct, 02:40 PM :
One of my friends just posted this on Facebook
An American Oil Find That Holds More Oil Than All of OPEC - ABC News
Nitpicker's corner: This is the first time I've seen "several" used for "3".
xkcd: Words for Small Sets