(04-18-2019, 02:26 PM)mikesez Wrote:

(04-18-2019, 11:53 AM)HandsomeRob86 Wrote: I just don't understand why we can't get our oil from more stable countries like China does. I mean if we are going for reserves, lets make a deal with Venzuela and forget about the middle east.

It's hard to know where exactly anyone barrel of oil comes from however it's a pretty good bet that most of the oil extracted in the Persian gulf ends up in Europe. North America relies on its own supplies and supplies from South America, and China relies more on Indonesia and malaysia.

Considering it is a globally traded commodity with a majority of petrocurrency in U.S. dollars and with oil types having a distinct chemical fingerprint, I'd say there is a pretty good chance we know exactly where each barrel comes from. Actually, aside from our own supplies, the US relies on Canada as a major supplier with South America batting cleanup. China relies on domestic and Russia. Indonesia and Malaysia don't even register in the top 10 of China oil imports as they are heavy into natural gas, not oil.

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(04-18-2019, 02:32 PM)TJBender Wrote:

(04-18-2019, 11:53 AM)HandsomeRob86 Wrote: I just don't understand why we can't get our oil from more stable countries like China does. I mean if we are going for reserves, lets make a deal with Venzuela and forget about the middle east.

I don't know that Venezuela's the best country to be making deals with right now. I do know that if you go out into eastern Colorado, where you're always 15 miles from the nearest town, there is a ton of oil to be had if you can figure out how to get to it without pumping hydraulic fluid into the water table.

Right?! Venezualajust recently approved a cryptocurrency backed by their petroleum products because their regular currency has all but crashed. Makes me want to continue trading with them. LOL

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