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☆ Yσɠƚԋσʂ ☆@lemmy.ml to World News@lemmy.mlEnglish · 2 days ago

Exxon Warns Oil Inventories Are Near Crisis Levels as Emerging Markets Dump US Treasuries

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Exxon Warns Oil Inventories Are Near Crisis Levels as Emerging Markets Dump US Treasuries

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☆ Yσɠƚԋσʂ ☆@lemmy.ml to World News@lemmy.mlEnglish · 2 days ago
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Exxon says global oil inventories are at dangerously low levels amidst Middle East chaos & emerging markets cut US Treasury holdings.
  • DancingBear@midwest.social
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    2 days ago

    US is the world’s largest exporter and producer of oil.

    • mirshafie@europe.pub
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      1 day ago

      That’s true. The US produces 14 million bpd and consumes 21 million bpd which is more than any other single country.

      US propagandists use a broad definition for what counts as petroleum products muddle the facts and call the USA a net oil exporter. The reality is that the USA must import at least 7 million barrels per day, even if they completely stop exporting.

      • BillMangionee@lemmy.ml
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        Where did you get those numbers? I know for gasoline/petroleum its roughly equal local production and consumption.

        • pucker4676@lemmy.ml
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          11 hours ago

          The media makes a big deal of it, as if it’s something to be proud of. Most useless, wasteful country on the planet.

          https://www.energy.gov/articles/fact-sheet-delivering-us-oil-and-natural-gas-production

          https://energyheadlines.com/us-crude-production-to-hit-record-13-41-million-bpd-in-2025-before-falling-eia-says/

          https://www.lambdafin.com/articles/us-vs-opec-oil-production

    • ghost_laptop@lemmy.ml
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      2 days ago

      it is also the worlds largest exporter and producer of bullshit

    • wheezy@lemmy.ml
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      1 day ago

      Is your point to say this is good for the US? Good for Oil companies in the US maybe. On the short term. But oil is a global commodity. The oil goes to whoever is willing to pay. Unless you think Trump is going to nationalize the oil industry. Americans are just as fucked as anyone else. Doesn’t matter where the oil comes out of the ground. It matters who is selling it and who is buying.

      • DancingBear@midwest.social
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        19 hours ago

        Just pointing it out. It’s something I don’t think most people are aware of. Why I mentioned exporter and producer.

        • wheezy@lemmy.ml
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          19 hours ago

          All good. Sometimes the context (or lack there of) in which people mention things makes me confuse the intent.

          • DancingBear@midwest.social
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            16 hours ago

            Irregardless, for

            One: I hear you, we aren’t all excellent at writing and conveying sentiment as you. There is also obviously the weird use of their where we’re, or at least we were, confused.

            Two: Sometimes though, we’ve been drinking and a lot of times we have to allot ourselves only a certain number of grammar edits here too.

            Three: Yee-haw! I wear how much I drink & drank on my sleeve.

    • racoon@lemmy.ml
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      1 day ago

      oil is a drug

      • DancingBear@midwest.social
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        19 hours ago

        Oil is ancient sunlight.

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