Changed topic title to "World's Biggest Reset".

Which Trump tweeted.

And it seems he's not joking.

Oil tankers lining up for US oil

And predictions that the there will be peace in the Middle East for decades.

Weakening the world's dependence on Middle Eastern oil ...

And the end of the Ukraine war because of NATO, but not exactly sure how that works.

Weakening the world's dependence on Middle East oil = less conflict in the Middle East

That's wild !!

This is huge.

Can US sufficiently increase production to meet demand? Also do not forget US imports approx 4 million barrels of oil per day from Mexico and Canada. One assumes current decision by Trump on closing oil exports in the Straight of Hormuz will further increase cost of oil, creating even more damage to the global economy.

Bit hyperbolic.....

If anything the US will now be making US oil less attractive by ensuring all the Gulf states, bar Iran, can export their oil products.

This is an economic strangle hold on Iran, not world oil supplies.

2 hours ago, save the frogs said:

Changed topic title to "World's Biggest Reset".

Which Trump tweeted.

And it seems he's not joking.

In a way you've got a point. This is accelerating the switch to renewables. China is already profiting from the fall out of the war.

10 minutes ago, Alan Zweibel said:

In a way you've got a point. This is accelerating the switch to renewables. China is already profiting from the fall out of the war.

not sure what the point of this exercise is .... US can abuse it's power with the vast majority of the world's oil reserves ... we don't want that

fighting over oil has been the biggest cause of wars

so let's hope we're nearing the final stages of the oil era

and is that part of trump's MASTER SUPER DUPER plan ?? to get everyone to jump ship to renewables?

or is he just a greedy pr*ck ??

stay tuned, folks

Bout time congrats Sir Trump.

3 minutes ago, save the frogs said:

not sure what the point of this exercise is .... US can abuse it's power with the vast majority of the world's oil reserves ... we don't want that

fighting over oil has been the biggest cause of wars

so let's hope we're nearing the final stages of the oil era

and is that part of trump's MASTER SUPER DUPER plan ?? to get everyone to jump ship to renewables?

or is he just a greedy pr*ck ??

stay tuned, folks

And how does that fit in with the fact that Trump has done just about everything he could to stifle renewable development in the usa?

2 minutes ago, Alan Zweibel said:

And how does that fit in with the fact that Trump has done just about everything he could to stifle renewable development in the usa?

no you're right.

it doesnt

again, no one wants a despot with all the oil's reserves

but i think trump is more benevelont (how do you spell that? ) than people on here give him credit for ... but let's see how it plays out.

but let's move beyond the silly "Trump is an absolute idiot" discussions though ... clearly he's pulling off major resets as he calls it.

2 hours ago, MIke B Bad said:

Bit hyperbolic.....

If anything the US will now be making US oil less attractive by ensuring all the Gulf states, bar Iran, can export their oil products.

This is an economic strangle hold on Iran, not world oil supplies.

When Iran can fire missiles at ships from point blank range, I can't see how a blockade can be selective.

Not bad.
Seeing as it takes around five to six (ish) weeks for a tanker to travel from the Persian Gulf to the Gulf of Mexico, they must have really given those tankers the beans to get them there in the 36 hours since three of the Four Horsemen got shown the door in Islamabad.
The post distinctly says, "securing Venezuela's oil and blocking the Strait of Hormuz".
Venezuela has massive reserves but doesn't actually produce much. And the countries that rely on oil from The Strait are in Asia, ~5,000 miles from the west coast of the US.
If the tankers had started their trip from Persian Gulf to the Gulf of Mexico at the very beginning of the war, as in Day One, they'd only be getting there now. Or did someone tip off the oil executives again...

Of course not. That'd be insider trading and fraudulent use of executive office.

The Strait only accounts, apparently, for 20% of global oil shipments.
It may be hard for some Americans to understand - even though they are the undisputed winner of global oil production - but other countries produce oil, too, including those countries to the immediate south and north of them.
Some others are countries they didn't even know existed ... on continents they think are countries.

9 minutes ago, The Oracle said:

but other countries produce oil, too, including those countries to the immediate south and north of them

90 percent of Canadian oil exports go to the USA.

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29 minutes ago, save the frogs said:

no you're right.

it doesnt

again, no one wants a despot with all the oil's reserves

but i think trump is more benevelont (how do you spell that? ) than people on here give him credit for ... but let's see how it plays out.

but let's move beyond the silly "Trump is an absolute idiot" discussions though ... clearly he's pulling off major resets as he calls it.

There's absolutely no argument that Trump is definitely pulling something.

10 minutes ago, blaze master said:

90 percent of Canadian oil exports go to the USA.

That is until Canada decides to export their oil to friendly countries.

I also read a few weeks ago that Venezuela produces very heavy crude, which the US has no refineries for.

2 hours ago, MIke B Bad said:

Bit hyperbolic.....

If anything the US will now be making US oil less attractive by ensuring all the Gulf states, bar Iran, can export their oil products.

This is an economic strangle hold on Iran, not world oil supplies.

20% of world oil transits Straight of Hormuz. With US protection will it be sufficient for shipping insurance? Only will take one hit on a tanker for oil prices to again spiral HowvweverIMO it's all rather ridiculous, exactly what has Trump achieved at the strategic level

3 minutes ago, CallumWK said:

That is until Canada decides to export their oil to friendly countries.

I also read a few weeks ago that Venezuela produces very heavy crude, which the US has no refineries for.

That will take a very long time considering our track record at building new infrastructure in a timely manner.

3 hours ago, save the frogs said:

Weakening the world's dependence on Middle East oil = less conflict in the Middle East

That's wild !!

This is huge.

So, time to take a sneak peek at reality:

The US is a net importer of crude oil.

Grok (AI):

9 minutes ago, CallumWK said:

That is until Canada decides to export their oil to friendly countries.

I also read a few weeks ago that Venezuela produces very heavy crude, which the US has no refineries for.

They've already started to send more of their oil to other countries. But that said,building another pipeline would be very costly.

As for Venezuelan crude, actually US refineries on the Gulf of MEXICO are purpose-built to process that crude. The reason is that before fracking it was the received wisdom that the light crude which characterizes American oil was on the decline. Then came fracking and those predictions went out the window.

11 minutes ago, Alan Zweibel said:

They've already started to send more of their oil to other countries. But that said,building another pipeline would be very costly.

As for Venezuelan crude, actually US refineries on the Gulf of MEXICO are purpose-built to process that crude. The reason is that before fracking it was the received wisdom that the light crude which characterizes American oil was on the decline. Then came fracking and those predictions went out the window.

I understand after Venezuala nationalized its oil, the major exploration companies withdrew,. Infrastructure and actual oil production is quite moribund.

It's a matter of getting those companies to risk their capital again, and ramping up production, That's not going to happen overnight.

37 minutes ago, blaze master said:

90 percent of Canadian oil exports go to the USA.

Ssshhhh!
Yes, they do.
They also supply electricity to some northern (I think primarily north-eastern?) states.

Don't follow my mistake and post facts.
NEVER let the facts get in the way of a good bit of jingoism.

37 minutes ago, simple1 said:

20% of world oil transits Straight of Hormuz. With US protection will it be sufficient for shipping insurance? Only will take one hit on a tanker for oil prices to again spiral HowvweverIMO it's all rather ridiculous, exactly what has Trump achieved at the strategic level

The blockade, which is only of Iranian ports, starts in an hour.

It will be over this week

11 minutes ago, The Oracle said:

Ssshhhh!
Yes, they do.
They also supply electricity to some northern (I think primarily north-eastern?) states.

Don't follow my mistake and post facts.
NEVER let the facts get in the way of a good bit of jingoism.

The oil exports to other countries will be low for a long time to come. Sending the vast majority to the USA makes the most sense financially and logistically.

Last night I was watching a vid that touched on the subject of the electricity generated by the Hudson bay projects and the relationship of exporting it to the USA.

The Canadian USA trade relationship is quite unique to say the least.

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2 hours ago, Lacessit said:

When Iran can fire missiles at ships from point blank range, I can't see how a blockade can be selective.

No neither can I.

I can see a total cluster**** from the Moon though.

2 hours ago, Alan Zweibel said:

And how does that fit in with the fact that Trump has done just about everything he could to stifle renewable development in the usa?

Trying to research oil a bit ...

At 13:13, he states "current alternatives cannot replace what cheap oil does at the scale and speed our current system requires".

But his thesis is that oil is on its death bed ... multi part series which I have no time to watch now .

But then again, people have been talking about "Peak oil" for decades, so not sure how valid this stuff is or what the timeline is.

3 hours ago, CallumWK said:

I also read a few weeks ago that Venezuela produces very heavy crude, which the US has no refineries for.

Venezuela produces a broad range of oil as graded by API and that does include the refineable light and intermediate grades. You may have misread the statistic that the bulk of Venezuela's reserves are indeed the very heavy crude you speak of.

Trump controls what China wants and needs (VZ) and NOW the Hormuz. This is 12D chess to liberal tiddly-winks.