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Politics : Formerly About Advanced Micro Devices

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To: Maple MAGA who wrote (1344814)	2/25/2022 3:43:11 PM
From: rdkflorida2	Read Replies (3) of 1575947

Total imports of crude and petroleum products from Russia is about 7%. 3% crude and 4% petroleum products. We get the most imports from Canada, 52% or so, and 2021 was the most amount of crude ever imported from Canada, most from Alberta. We had $10, and lower crude WITHOUT the Keystone extension. The Keystone Pipeline system totals well over 2000 Miles. It was proven the Keystone extension was NOT needed. Biden imposed a 60 day suspension of NEW leases on Federal land. The U.S. is still the overall largest producer of crude and is also an exporter. Oil is fungible. It goes to the highest bidder. So NOTHING Biden has done has changed what happened to oil. NOTHING. We are in an economic growth cycle at a time when producing wells were capped back when oil dropped to a negative number. It will take time for those wells to come back on line. Combine this with OPEC cutting production, the problem with Russia, Iran, etc. and you get a supply/demand imbalance. Do some google work and you would find this is all available to you. The crude oil market is more complex than you portray it to be. RDK

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