Is this true

Tom-D

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Tom-D
These companies import Middle Eastern oil:
Shell............................ 205,742,000 barrels
Chevron/Texaco......... 144,332,000 barrels
Exxon /Mobil............... 130,082,000 barrels
Marathon/Speedway... 117,740,000 barrels
Amoco............................62,231,000 barrels
If you do the math at $30/barrel, these imports amount to over
$18 BILLION! (oil is now $66 to 69 a barrel)

Here are some large companies that
do not import Middle Eastern oil:

Citgo......................0 barrels
Sunoco...................0 barrels
Conoco..................0 barrels
Sinclair.................0 barrels
BP/Phillips............0 barrels
Hess.......................0 barrels
ARC0....................0 barrels
 
BP purchased or merged with Amoco a while back so your data may not be current.
 
I wouldn't know if it is or isn't true. But, I'm not following you on this. At the risk of putting words in your mouth, do you think by not purchasing from those companies in the first column we would be bringing that many more troops home?


The ME has been/is/will always be a problem. Since we inch ever closer to a true world economy that problem becomes everyone's problem.
 
Richard said:
I wouldn't know if it is or isn't true. But, I'm not following you on this. At the risk of putting words in your mouth, do you think by not purchasing from those companies in the first column we would be bringing that many more troops home?


The ME has been/is/will always be a problem. Since we inch ever closer to a true world economy that problem becomes everyone's problem.

I'm not into this as a political thing. I'm thinking more like buy American.

I got an E-mail and it didn't sound right. asking for info only.

And if these companies don't by ME oil where do they get it?
 
Citgo is owned by Venezuela (or Venezuelans, I forget which), and my guess is that their oil comes from there.
 
NC19143 said:
I'm not into this as a political thing. I'm thinking more like buy American.

I got an E-mail and it didn't sound right. asking for info only.

And if these companies don't by ME oil where do they get it?

I don't know if all the oil comes from there, but Phillips-Conoco had a huge refinery, with MANY oil derricks around Borger, TX. I found out from a local when we stopped there on the way to Gastons.
 
One other thing.

Many US refineries cannot handle Middle East crude. Much of the domestic oil (particularly the Gulf oil) is a lighter, "sweeter" crude than the heavier crude that comes from the Middle East.

Valero has focused on refineries that are capable of both, with particular emphasis on the heavy.
 
The only one that IS American is ExxonMobil. Based in Irving, TX, it is considered one of the 4 largest.
Unlike merchandizing, it appears that gas stations do not need to worry about 'shelf' price. They get to change the price per gallon ad hoc. Today, I witnessed prices go up by DOLLARS. The generics were charging more than the brand names.
This should be illegal. It is certainly immoral. The oil companies are making OBSCENE profits, and to do it during a time of a disaster like Katrina is unconsionable. If I could live without them, believe me, I would.
 
John,

The oil companies - and the Harvard MBAs on Wall Street - have figured out that the market is inelastic, and that people will buy regardless of the price. The Wall Street types have been trading on the futures market. Given where that has gone, we won't see relief anytime soon. The gas stations aren't making the profits... the oil companies are only if they are capitalizing on the futures and hedging.
 
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