Well the USA is a net exporter of all oil products since 2019, this will probably make some people very rich and has the potential to be good for parts of the us energy sector.
The west coast is the only part that relies on middle eastern oil. And a spike in prices will just get them in line and connected to the rest of the shale powered system.
I don’t like any of this, but I think the doom and gloom lies elsewhere.
>> The west coast is the only part that relies on middle eastern oil. And a spike in prices will just get them in line and connected to the rest of the shale powered system.<<
Californian here. There is no discussion or any desire to build an oil pipeline from TX/LA across NM and AZ to deliver oil to refineries here. Ha, if you think the Keystone XL pipeline was controversial... it'll never happen.
Calif produces about 20% from its own but tired wells. Some oil is imported from the Middle East but larger volumes come by ship from South America and Alaska.
> has the potential to be good for parts of the us energy sector.
No way this is good for anyone other than oil producers. The only potential positive it'll have on the US energy and shipping sectors is this is going to put even more pressure on adopting renewables as fossil fuel cost spikes.
That's good only for inflation, nothing else. Renewables are included, after inflation and tariffs they won't become more attractive compared to carbohydrates.
> The west coast is the only part that relies on middle eastern oil. And a spike in prices will just get them in line and connected to the rest of the shale powered system.
The west coast is adopting EVs at a faster pace than the rest of the country. You could just as well see accelerated adoption of EVs in personal and freight transportation, Chinese manufacturers opening up US EV production, and so on.
The answer isn't necessarily drawing shale from Alberta that we can't really process anyways (without mixing it with light crude from Texas anyways).
The west coast also has some of the highest priced electricity in the nation, with apparently projections on it getting even worse somehow.
It’s amazing how much grift and subsidy leveraging the US renewables market has engaged in compared to pragmatic deployments elsewhere like China. Utterly insane and it shows how difficult it’s going to be to fix since it’s an endemic problem with American society at its core.
Oregon and Washington state do not have expensive electricity. California does, but they also have light heating and AC needs so whatever. It is still much cheaper to charge an EV in California than to gas up a car in Texas (on a mileage per cost basis).
The west coast is the only part that relies on middle eastern oil. And a spike in prices will just get them in line and connected to the rest of the shale powered system.
I don’t like any of this, but I think the doom and gloom lies elsewhere.