Sorry, I was looking at the net exports on my charts instead of the gross exports. However, my point remains, the US is still far short of $250 billion in total oil & gas exports. You have a bit over 4 million barrels/day in gross oil exports which works out to around $120 billion at $80/barrel which was the average price last year. For natural gas it's 7.7 trillion cubic feet at a price of a bit over $5 per 1000 cubic foot which works out to about $40 billion. That's a total of $160 billion in oil & gas exports, far less than the $318 billion you claim, the US would still need to ramp up production significantly and roughly double its total exports to supply the EU with $250 billion/year in energy without cutting off the rest of its customers.
Wrong. Don't move the goalposts. The $318bn figure I cited was for
energy as that was the term you used in your post. And don't think I've forgotten your claim that we can't produce more than 25% of this capacity at most.
You can't fucking buy $250 billion in energy from the US since that's like 4-5 times more than what the US can export in a year, and the production capacity & export infrastructure doesn't exist and can't be built any time in the next decade even if the US wanted to.
You're a laymen like the rest of us with no clue what our capability for ramping up output is.
The US is not Saudi Arabia, it can't just open up the taps and put an extra few million barrels/day on the market overnight. Increasing US oil production requires a shitload of drilling & fracking which is both time consuming & expensive as hell. It can be done but you're looking at a 5-10 year time frame, it's not going to happen anytime during Trump's term.
You clearly don't know anything about the US's oil & gas production. I've seen reports over the years in our papers that in places like Dickinson, North Dakota, for example, we have been
burning off more fuel daily than we export just because it didn't have a buyer, or because prices were low, or because they hadn't yet developed sufficient transport but didn't care about the overflow wastes so long as they maintained drilling production, and things like that. This has been going on for more than a decade. Here's an old example related to the topic:
NEW YORK -- Oil drillers in North Dakota's Bakken shale fields are allowing nearly a third of the natural gas they drill to burn off into the air, with a value of more than $100 million per month, according to a study to be released on Monday.
I get it. You don't like the deal, you hate Trump, so you made up your mind to feel negatively about all facets of it beforehand, and now you're pontificating about things you know nothing about because you have a search engine, and you confuse accessible knowledge with acquired knowledge.
Please spare us your ignorance. I don't particularly like the deal, myself, but you're parroting stuff you saw on the internet, and you're forcing the rest of us to suffer your confirmation bias you're reinforcing with nothing more than crap you fetch with a search engine after the fact. You have no idea what you're talking about, and frankly, I've learned as I've gotten older the people who write those articles tend to know as little as you.
www.reuters.com
