Following U.S. strikes on Iranian nuclear facilities on Saturday, the Iranian Parliament has voted in support of closing the Strait of Hormuz, one of the world’s most critical oil transit chokepoints, according to media reports.
Any final decision on retaliation, however, will rest with the country’s Supreme National Security Council and le
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Around 20 percent of global oil trade passes through the Strait. Some experts have said that if Iran were to cut off access to the Strait, it could spike oil prices by 30 to 50 percent immediately, with gas prices likewise rising by as much as $5 per gallon.
Unfortunately the oil we drill can’t be refined here. So it doesn’t matter if we drill more. We can’t do anything with it without sending it east.
It’s okay, kids can build and work the refineries.
The children yearn for the 'fines.
Why can’t it be refined here?
Something about heavy and light crude oil, and some head scratching decisions that involve shipping things around the world
Because the refineries constantly fuck up and release toxic shit without warning nearby communities of what they did and that windows need to be closed. Then they get shut down when the riots start.
I was curious, and this is what I found.
And we use a little over 20.
Here is a video about it. In a nutshell, the oil we are able to pump out of the ground is a much lower quality oil and our infrastructure is not setup to handle the low quality crude oil. In order be able to process it, we would need to spend billions for the infrastructure and it wouldn’t make financial sense since the East processes it for so much cheaper.
https://youtu.be/veTbuLu7znc
The US has been a net exporter of refined petroleum since 2010.
Yeah but it’s not the same quality or type of oil that the Middle East has. However Alaska does have that type of oil…