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Texas Is About to Create OPEC’s Worst Nightmare

bloomberg.com

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Re: Texas Is About to Create OPEC’s Worst Nightmare

#21

Post by syntaxing »

lykr0n wrote: post #5

Texas is in a funny place. They are pumping oil like crazy, but they are building wind like crazy as well. Look at the City of Austin and the amount of renewables year over year: https://data.austintexas.gov/Utilities-and-City-Services/Gen... You can see a real-time chart of energy mix here: https://austinenergy.com/ae/about/environment/renewable-powe... Most days renewables are 50% of electricity consumes. I pay a b…

A couple year ago, they were the highest producer of energy of any form in the US (including oil, coal, solar, and wind).

Re: Texas Is About to Create OPEC’s Worst Nightmare

#22

Post by mc32 »

toomuchtodo wrote: post #11
Kaveren wrote: post #7

I'm hopeful that America can further lessen our dependence on Saudi Arabia as much as possible through this. Alas, the alliance is based around a lot more than just oil, and the Saudi vision is to shift away from oil reliance, but I'll gladly take a chink in the armor. > "Global oil demand has so far absorbed the extra U.S. crude barrels, limiting the impact on prices" This slightly curbs my optimism.

This isn't feasible. The refineries in the US are not designed for the same oil produced by the Permian basin (the Permian is producing light crude, US refineries are configured for medium to heavy crude). More importantly, oil is fungible on the world market; you can't effectively dictate "Oil produced in America is consumed in America" without drastically regulating the energy market with public policy (not going t…

China imports more oil than we do and their demand for energy is only going to go up. We’re producing more energy domestically and lessening our reliance on foreign energy, so China has a bigger incentive to change their energy equation —in addition, their gov can just issue a decree and change policy with but a little corruption interfering a bit.

Re: Texas Is About to Create OPEC’s Worst Nightmare

#23

Post by pathseeker »

Kaveren wrote: post #7

I'm hopeful that America can further lessen our dependence on Saudi Arabia as much as possible through this. Alas, the alliance is based around a lot more than just oil, and the Saudi vision is to shift away from oil reliance, but I'll gladly take a chink in the armor. > "Global oil demand has so far absorbed the extra U.S. crude barrels, limiting the impact on prices" This slightly curbs my optimism.

America now produces enough oil that cutting off Saudi Arabia wouldn't be any kind of energy crisis. The only reason to be nice to tolerate their journalist murders at this point is for military strategic advantages in the middle east.

Re: Texas Is About to Create OPEC’s Worst Nightmare

#24

Post by [deleted] »

mc32 wrote: post #22
toomuchtodo wrote: post #11

Earlier quoted context omitted.

This isn't feasible. The refineries in the US are not designed for the same oil produced by the Permian basin (the Permian is producing light crude, US refineries are configured for medium to heavy crude). More importantly, oil is fungible on the world market; you can't effectively dictate "Oil produced in America is consumed in America" without drastically regulating the energy market with public policy (not going t…

China imports more oil than we do and their demand for energy is only going to go up. We’re producing more energy domestically and lessening our reliance on foreign energy, so China has a bigger incentive to change their energy equation —in addition, their gov can just issue a decree and change policy with but a little corruption interfering a bit.

[deleted]

Re: Texas Is About to Create OPEC’s Worst Nightmare

#25

Post by sctb »

dantillberg wrote: post #2

The AMP version linked is barely readable on a large display; but the regular version is at https://www.bloomberg.com/news/articles/2018-11-21/opec-s-wo...

Thanks, we've updated the link from https://www.bloomberg.com/amp/news/articles/2018-11-21/opec-....

Re: Texas Is About to Create OPEC’s Worst Nightmare

#26

Post by tensor »

mhkool wrote: post #15

Less dependency on foreign oil is good for peace since the US will not be "protecting their interests". And Saudi Arabia having less budget for their wars is also a good thing.

The current administration doesn't seem to particularly care about peace, so I'm skeptical that this will make any difference at all. The US is even treating long standing allies as enemies these days.

Re: Texas Is About to Create OPEC’s Worst Nightmare

#27

Post by pathseeker »

lykr0n wrote: post #5

Texas is in a funny place. They are pumping oil like crazy, but they are building wind like crazy as well. Look at the City of Austin and the amount of renewables year over year: https://data.austintexas.gov/Utilities-and-City-Services/Gen... You can see a real-time chart of energy mix here: https://austinenergy.com/ae/about/environment/renewable-powe... Most days renewables are 50% of electricity consumes. I pay a b…

> Texas is in a funny place. They are pumping oil like crazy, but they are building wind like crazy as well.

There isn't really anything contradictory about that. Oil has a vastly different set of use-cases than wind energy. There are no electric alternatives for most long distance transportation, which is a huge chunk of our energy consumption.

Gaining independence from OPEC by supporting local oil extraction while simultaneously moving as much of the grid to renewable as possible is a completely rational choice.

Re: Texas Is About to Create OPEC’s Worst Nightmare

#28

Post by stcredzero »

CodeSheikh wrote: post #17
lykr0n wrote: post #5

Texas is in a funny place. They are pumping oil like crazy, but they are building wind like crazy as well. Look at the City of Austin and the amount of renewables year over year: https://data.austintexas.gov/Utilities-and-City-Services/Gen... You can see a real-time chart of energy mix here: https://austinenergy.com/ae/about/environment/renewable-powe... Most days renewables are 50% of electricity consumes. I pay a b…

Don't forget that Texas is also one of the largest producer of nuclear energy in the nation.

Lots of people in Texas have gotten good at making money from producing energy. Simple as that.

Re: Texas Is About to Create OPEC’s Worst Nightmare

#29

Post by toomuchtodo »

2trill2spill wrote: post #19
sk5t wrote: post #14

Earlier quoted context omitted.

Isn't it typical for each economy to export the thing it is best at producing? Also look at Norway--huge petroleum wealth, lots of Teslas because oil is dirty.

Depending on where you get the electricity to charge your Tesla it could be worse than oil. But seeing as Norway gets almost all of it's electricity from renewable energy that's not the case there.

There is no electrical generation source that is worse than oil, for any electric car. Only 12-30% [1] (EDIT: replaced 1% after correction from nradov) of energy makes it to the wheels when burning petroleum to propel a vehicle forward.

Your electric car will get cleaner over time (90-95% of new generation coming online each year are renewables), your petrol vehicle will burn petrol forever.

[1] https://www.fueleconomy.gov/feg/atv.shtml

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