We Buy 0 Oil From Iran. Big Oil Scam

Oil prices are based on “Futures” prices. It’s not too late to sell short. Reap the benefits.

So much of "oil trading" is done by guys in suits dealing in commodities. They never touch a drop of oil. Prices at US refineries have changed very little on the incoming side, but the output is priced based on projecting an increase of new incoming crude after this is sold.
One scam is quarts of oil we buy retail. From Biden to Trump the price of crude fell, but the cost of motor oil is still priced as if there is $100 bbl oil. It never fluctuates.

Gasoline at the pump is the only product that can go up or down in price within a hour or two.

Is it a scam or is the relatively steady price of lubricant oils a reflection of the interplay between stability of feedstock sources, shipment price-at-purchase, significantly lower consumption rates of said oil vs. fuels, time interval between batch production and depletion and lubricant manufacturers' need to recoup production costs/remain within margins of profitability?

Noice

I reckon that explains why the cost of plastic utensils doesn't vary by the minute either at the Dollar Tree.

PS: You'll never believe what he claimed that he used to do for a living some years ago.

🤞C'MON, OIL INDUSTRY EXEC🤞

If you recall in The Usual Suspects, 'Verbal' reminiscing about picking coffee beans back when he was in Guatemala...

Sev claims to have had an interesting career in the subject of the day, spanning the world, and yes, oil was one of them. I do believe it was with a rig, but I'm not sure, because he used to be until a climatologist working for the Federal Government at least since Reagan and a Democrat until Clinton fired him (hence his current disdain for the party), so more in the science portion of the industry I reckon.

Anyways, he was going on about being an oil expert and how we now find oil in layers where decaying algae had become part of ocean sediments in the way back when.

I had brought up how it is oft found in upwellings where crustal plates grind up against each other, and he had not only not heard this, he firmly denied that this was a possibility, and rather adamantly at that. That's like somebody saying plains bison can't be found on the prairie. It's not exactly a minor fact that somebody in the industry would overlook or forget. You want to go looking for it, you go to places where the tectonic tango is going on.

Some perspective: if you only buy socks at Walmart, but every Target store gets bombed into oblivion, national need for socks (demand) is still the same, but now all the socks from Target (supply) are gone.

National supply has decreased, and national demand remains the same. This will exert pressure on the prices of your Walmart socks to increase, even though you never shop at Target.

We buy a lot of oil from Saudi Arabi, Kuwait and Iraq and it has to pass through the Strait of Hormuz.

AI Overview
The United States primarily imports oil from its North American neighbors, with Canada as the top source providing roughly 60% of total crude imports in 2024. Mexico is the second-largest supplier, followed by Saudi Arabia, Brazil, and Colombia, with over 80% of imports now originating from the Western Hemisphere.
Top U.S. Crude Oil Import Sources (2024-2025): Do your Research

Don't worry, you're not the only one. We all dozed off during the State of the Union Address also. All of them. And his campaign rally speeches as well. And basically anytime he opens his mouth and repeats the same thing he's been saying for a literal decade about drilling and energy independence. We don't buy from the Middle East, we squeeze out oil from the big oil tree in Texas.

I love the humans.

I did my research --specifically into the reason why interruptions in crude oil sourced from the Middle East has so much impact on fuel prices in the U.S....which is why I said what I said.

Here's a hint: composition of Canadian crude vs. Middle East crude. If you need more to go on, let me know.

Stop spreading the misinformation. You know it's all, drill, baby, drill, and we produce our own oil to sell to our own people so that we could use our own oil. That's what we call doemestick producshun. Cuz Dear Leader sez so.

California buys oil from Texas, and it passes through the Bahamas...