U.S. oil industry set to break record, upend global trade

[Zmaniac17]

Hmf...we'll never see $1/gal...

Hmm... Make a car that runs on $1 snickers bars. Problem solved.

[Cruor]

Because the US does not have sufficient refining capacity for all the crude that they generate. The majority of the Gulf Coast refineries were converted to refine heavy sour crude in the 1990s. The problem is that currently the US is producing mostly high quality light sweet crude which had to be processed primarily in the west and east coasts facilities.

So we have this strange situation. We are exporting our light sweet crude overseas because we do not have sufficient refining capacity to process those in the US, and we are importing heavy sour crude from Canada, Mexico, Saudi Arabia, etc. to be processed at the Gulf Coast facilities.

Thanks for the info, I did not know that.

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95% of people work 8 hours a day and sleep for another 8 and that is plenty of time to be charging. I don't know why people make this argument. Why should I even want to stop at a gas station to fill up. That is a waste of time.

5 to 10 years max before battery tech overtakes and passes gasoline in cost and efficiency and refill time. It's already almost there it just isn't being mass produced yet.

Oh how about 620 mile range, 0-60 in 1.9 seconds, 250 mph top speed is that enough? https://en.wikipedia.org/wiki/Tesla_Roadster_(2020) But you might have to break open the piggy bank.

As you said, the cost is WAAAY too high. The instant torque is awesome but its too expensive. We have ONE charging station at my apartment complex... usually a gas car is parked infront of it... if range increases, price drops, and many more charging stations pop up I will go for a high torque electric... until then...

[Elegiac]

As you said, the cost is WAAAY too high. The instant torque is awesome but its too expensive. We have ONE charging station at my apartment complex... usually a gas car is parked infront of it... if range increases, price drops, and many more charging stations pop up I will go for a high torque electric... until then...

I'm not sure how you expect costs to come down without mass production.

As for the charging stations, there weren't many gas stations to start with back in the day either.

[cubby]

As you said, the cost is WAAAY too high. The instant torque is awesome but its too expensive. We have ONE charging station at my apartment complex... usually a gas car is parked infront of it... if range increases, price drops, and many more charging stations pop up I will go for a high torque electric... until then...

Charging stations are not tough to create. Those will come with time - and I believe there is a plan to ramp up their locations along with electric car sales. Your position is all anecdotal. The facts speak for themselves.

And you've completely ignored the transportation industry - and how much they are embracing electric vehicles. Which will in turn up the charging locations for private cars.

The tide is turning, in multiple locations/producers/reasons.

[Blamblam41]

But but but guys, the Chinese are using the oil to build their infrastructure and their highways and their roads! All these resources being sold to China should just stay in the US domestically so we can use it to crush our enemies!

I wish I was joking.

[Nazrark]

The last gasps of a dying industry.

Even when we move away from combustion engines. We still need petroleum for plastics. Which won't be going away anytime soon. If anything, with lower production plastics will cost more. Making them more money.

[Cruor]

You drive some crappy vehicles. I used to be young and dumb, and enjoyed the V-8s. Had a GTO and Vette, then I realized that a turbo slapped on a 6 is way better. Now we have electric cars that demolish everything, but stick to your outdated 8.

Turbo slapped on a V6 is not anywhere close. Name a Turbo V6 that puts out more power than the best V8? Even with Fords Ecoboost, their 5.0L V8 puts out more power than the 3.5 Ecoboost once turboed or superchaged. The best solution is a V8 paired with an electric motor like the Porsche 918. Sadly, I can't afford that. Please do tell me about your V6 that beasts E 63 AMGs, BMW M5s, and Demons? I'd take a Tesla once the prices go down and we have 5X more chaging stations.

[Drattz]

we didnt bail out the auto industry you uneducated person you. we gave a couple of them loans which was repaid. also FORD did not get a loan. so how the fuck is that the auto industry in USA when ford is our biggest and did not get a fucking loan? i hate how ignorant people try to act. you know this shit, yet you say dumb talking points that you have to know that are fucking wrong. why?

just noticed that is a lot of fucks... guess i get mad when people do this dumb shit to make their view point sound better.

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you would think ME would sell to asia directly and there would be no need for all this extra shipping. gotta love trade deals.

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once that cheap tesla actually comes out and in good numbers you can forget about gas. i want the acceleration that electric offers before driver less cars are required.

Along with what the other guy said let's not forget that after the bailouts were paid back the federal government lost 10.2 billion which is 1/8th of the loaned money. So yes Ford didn't take them, and most of them were payed back. That however doesn't mean that it wasn't a bailout or that it was budget neutral for our country.

Going a bit farther while Ford didn't receive TARP funds like the others they did get a 5.9 billion dollar loan from the Energy Department.