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Where does U.S. Gasoline come from?

Sunday, January 5, 2014 8:50

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Per the U.S. Department of Energy:

69% of the pump price of gas is crude oil cost which equals $2.24 per gallon.

60% of crude oil is from domestic sources and 40% comes from imports:

Domestic Oil:

$1.34

(60%)

Imported Oil:

$0.90

(40%)

Cost Per Gallon

$2.24

(Note: Crude oil cost of $2.24 per gallon is equal to 59¢ per litre or €.43 per litre.)

The following two charts show where this oil comes from in U.S. gasoline:

The significance of Texas region (TX, NM, LA) in U.S. oil production.

That the “Non Free Trade Cartel” of OPEC is a larger supplier of
&nbsp &nbsp imported oil than Canada.

Origin of Oil in U.S. Gasoline Supply
(Bar Chart Perspective)Origin of Oil in U.S. Gasoline Supply
(Bubble Chart Perspective) Notes on Domestic Production: Total U.S. oil production (with record growth during the past two years) has now increased 50% since 2008. Through the extensive use of fracking and horizontal drilling, almost all of this growth is occurring in six U.S. tight oil formation regions — especially in the Texas region (TX, NM, LA) and North Dakota:

U.S. Oil Production Growth RegionsAs discussed in our last blog, the production cost of extracting oil from fracking/horizontal drilling is very expensive — up to 4 to 6 times higher than from conventional oil fields in the Middle East. Without a continuance of high market prices for crude oil (currently $107/bbl for Brent, $95/bbl for WTI) much of this U.S. oil would be uneconomic to extract.

Notes on Foreign Oil Sources: A common misconception in public opinion is that the OPEC Cartel represents only countries from the Middle East. OPEC members also include countries in Africa and South America. The OPEC member of Venezuela (the 4th leading oil importer to the U.S.) is very “oil hostile” — and has nationalized and continues to seize U.S. Oil Companies’ assets.

OPEC Oil Imports to U.S

Following The Money Trail: As stated earlier, 69% of the pump price of gasoline is crude oil cost — which currently equals $2.24 per gallon. The next chart breaks down where and how much of your money is going every time you fill up.

One thing that should pique/grab American consumers’ attention is just how much of their gasoline dollars are going to the “non free trade cartel” of OPEC and other “questionably friendly” foreign countries (like Russia).

Where U.S. Gasoline Money For Oil Goes:
(per gallon) When a Politician or “Talking Head” attacks renewable energy (especially biofuels) with the ideological statement “The free market should determine energy winners and losers, not big-government” — everyone should think about something:

Every time we fill up our tank, consumers have “no choice” but to send 36¢ per gallon to OPEC (about $220 a year for an average driver). This is the equivalent to a “mandate” that 16% of the U.S. gasoline supply be blended with OPEC oil. This is anything but a “Free Market”.

Source: http://greenenergy.blogspot.com/2014/01/where-does-us-gasoline-come-from.html

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