# Anybody else come to the same conclusion about Saudi Arabia's oil production?



## nonononodrivethru (Mar 25, 2019)

The Saudis are heavily invested in Uber--one could even consider them the ghost owners of Uber. I think they are desperate for cash to keep Uber afloat so they had to sell a bunch of oil cheap.


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## backstreets-trans (Aug 16, 2015)

nonononodrivethru said:


> The Saudis are heavily invested in Uber--one could even consider them the ghost owners of Uber. I think they are desperate for cash to keep Uber afloat so they had to sell a bunch of oil cheap.


I think this is all a ploy to bankrupt the US shale producers and stymie the electric car innovators. They want to keep us dependent on oil for many years to come.

Masayoshi Son the CEO of Softbank that made all these bad investments in the gig economy should be worried about the Saudi leaders. They've invested 100s of billions in his fund and it's tanked this year. He might be leaving a future meeting in five different suitcases if he doesn't get his shit together.


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## nonononodrivethru (Mar 25, 2019)

The shale market isn't going anywhere. They just become strategic reserves.


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## TemptingFate (May 2, 2019)

nonononodrivethru said:


> The Saudis are heavily invested in Uber--one could even consider them the ghost owners of Uber. I think they are desperate for cash to keep Uber afloat so they had to sell a bunch of oil cheap.


Saudis stupidly invested $3.5 billion in Uber. They will likely lose it all. Luckily for them, they make $1 billion per day in oil sales so they'll probably be OK.


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## nonononodrivethru (Mar 25, 2019)

They're selling a lot of the oil to China, who is now terrified of going to war.


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## SHalester (Aug 25, 2019)

as of Jan Uber had 10 billion in cash. Not going anywhere anytime soon.


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## Who is John Galt? (Sep 28, 2016)

SHalester said:


> as of Jan Uber had 10 billion in cash. Not going anywhere anytime soon.


That statement won't age well.

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## mbd (Aug 27, 2018)

nonononodrivethru said:


> The Saudis are heavily invested in Uber--one could even consider them the ghost owners of Uber. I think they are desperate for cash to keep Uber afloat so they had to sell a bunch of oil cheap.


Those Arab Chiefs have so much money, they can blow 400 million$ on bogus painting . 
Uber-it is just another fake painting right off.


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## Who is John Galt? (Sep 28, 2016)

nonononodrivethru said:


> The Saudis are heavily invested in Uber--one could even consider them the ghost owners of Uber. I think they are desperate for cash to keep Uber afloat so they had to sell a bunch of oil cheap.


Yes, a logical conclusion. &#129315;

.


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## SHalester (Aug 25, 2019)

Who is John Galt? said:


> That statement won't age well.


it has since Jan. Uber has around a 3 year cash burn rate before cash goes to zero. So, it will age for 3 years? That's a long time to age a note, yeah? 
Can't wait until the 1st quarter statements are available to view to see how much they burned from Jan 1st when they had around $11bil in cash and near cash amounts.


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## Who is John Galt? (Sep 28, 2016)

SHalester said:


> it has since Jan. Uber has around a 3 year cash burn rate before cash goes to zero. So, it will age for 3 years? That's a long time to age a note, yeah?
> Can't wait until the 1st quarter statements are available to view to see how much they burned from Jan 1st when they had around $11bil in cash and near cash amounts.


Unless you are privy to their account balance, I think you will find the 3 year duration you speak of is like so many other things Über puts a time frame on - false expectations and broken promises. But hey, I might be wrong. Maybe this time they will come through. &#129315;

I also can't wait for their first quarter statements and the subsequent affect on their share price.

.


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## nonononodrivethru (Mar 25, 2019)

Who is John Galt? said:


> Yes, a logical conclusion. &#129315;
> 
> .


You should be ashamed to use that moniker. I don't think you understand just how dependent the Saudi economy is on oil.


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## Who is John Galt? (Sep 28, 2016)

nonononodrivethru said:


> You should be ashamed to use that moniker. I don't think you understand just how dependent the Saudi economy is on oil.


And I don't think you understand a lot of things.

.


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## SHalester (Aug 25, 2019)

Who is John Galt? said:


> Unless you are privy to their account balance


huh? You know Uber is a public company, yeah? their statements are public. You can google the balance sheet. Yes, google of all things.

And a few different market watchers said at current cash burn rate Uber has 3 years or so if nothing else changes. Google that shite too. Really, it's available. No secret ring needed.

And to the 'shadow owners' ah stock ownership is public too. sheesh. and under this rock you find this conspiracy.


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## Who is John Galt? (Sep 28, 2016)

SHalester said:


> You can google the balance sheet.


What is the date of the balance sheet? Is it today? Is it last week?



SHalester said:


> And a few different market watchers said at current cash burn rate Uber has 3 years


And P. T. Barnum said "There's a sucker born every minute."

.
.


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## SHalester (Aug 25, 2019)

Who is John Galt? said:


> What is the date of the balance sheet? Is it today? Is it last week?
> 
> .


oh, good grief. I said as of Jan 1 and that 1 qt 2020, which would be as of 3/30 is not available online yet. Or wasn't that last time I checked a few days ago. There, said it again.


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## Who is John Galt? (Sep 28, 2016)

SHalester said:


> oh, good grief. I said as of Jan 1 and that 1 qt 2020, which would be as of 3/30 is not available online yet. Or wasn't that last time I checked a few days ago. There, said it again.


Yes, and I said, "Unless you are privy to their account balance" which you aren't and neither am I, and neither is google, so all of us will just have to sit on the edge of our seats in great expectation and anticipation of Dara's inevitable load of BS to pump the share price for the suckers.

ISN'T IT EXCITING!!
.


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## SHalester (Aug 25, 2019)

Who is John Galt? said:


> "Unless you are privy to their account balance"


pretty sure one of us is confused. And with great sarcasm I say it ain't me. I mention cash balance and balance sheet and you say 'account balance'. huh?
Bottom line Uber is flush with cash or near cash. As of 12/31 they had over 11billion in cash and equivalents. Right there for GOD and everyone to see. 
I suspect by end of march, which is the first quarter for those paying attn, they have less. maybe now just 10b, which is what I've been quoting anyway since few undestand 'equivalents' as it relates to a balance sheet.

Clear as mud? Accounting class dismissed. btw, March 2020 stmts still not released yet as I just looked for them, just for you. Account balance that.


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## tohunt4me (Nov 23, 2015)

nonononodrivethru said:


> The shale market isn't going anywhere. They just become strategic reserves.


Money was set aside to Refill the strategic reserves.
( old salt domes that have been mined out)
But it didnt pass with the stimulus package.

Now would be a great time at these prices !


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## nonononodrivethru (Mar 25, 2019)

tohunt4me said:


> Money was set aside to Refill the strategic reserves.
> ( old salt domes that have been mined out)
> But it didnt pass with the stimulus package.
> 
> Now would be a great time at these prices !


Already in the works.



Who is John Galt? said:


> And I don't think you understand a lot of things.
> 
> .


We will revisit this in six months.


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## Who is John Galt? (Sep 28, 2016)

SHalester said:


> pretty sure one of us is confused.
> I suspect by end of march, which is the first quarter for those paying attn, they have less. maybe now just 10b, which is what I've been quoting anyway since few undestand 'equivalents' as it relates to a balance sheet.


OK, so after that expert predictive analysis, I'll look forward to seeing a balance of $10B. Whatever balance you like - I will accept any. &#129315; Obviously it will be no less than $10B because as you would be fully aware, Über has promised an operating profit by the end of 2020, and whatever Über promises, Über delivers.



SHalester said:


> btw, March 2020 stmts still not released yet as I just looked for them, just for you. Account balance that.


Not released yet, really? &#129315; Anybody who knows anything about finance would have realised that.

.


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## SHalester (Aug 25, 2019)

Who is John Galt? said:


> Anybody who knows anything about finance would have realised that.


Thank you, I knew you would get it sooner or later. Being naive can be a gift to some. You have doubt, go google and find out for yourself. Dozen and dozen of web sites have the YE statements.
And yes, accounting 101 quarter end statements take a while to percolate before being released to the 'public'. Glad to be a service helping you understand, tho I think you have profit and cash flow a bit sideways. Save to another day to assist you there. have a great night, now.


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## Who is John Galt? (Sep 28, 2016)

SHalester said:


> Thank you, I knew you would get it sooner or later. Being naive can be a gift to some. You have doubt, go google and find out for yourself. Dozen and dozen of web sites have the YE statements.
> And yes, accounting 101 quarter end statements take a while to percolate before being released to the 'public'. Glad to be a service helping you understand, tho I think you have profit and cash flow a bit sideways. Save to another day to assist you there. have a great night, now.


Waiting for the $10B LOL &#129315;

.


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## SHalester (Aug 25, 2019)

Who is John Galt? said:


> Waiting for the $10B LOL


go, fish for it. Or not. Naive is a gift.

LOL are we on American Online and I missed it? snap.


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## Who is John Galt? (Sep 28, 2016)

SHalester said:


> go, fish for it. Or not. Naive is a gift.


*Naivety 

.


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## June132017 (Jun 13, 2017)

I wonder what they mean by cash equivalents? Does that mean Euro's? Obviously the Euro's are converted into US dollars for the accounting.


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## backstreets-trans (Aug 16, 2015)

SHalester said:


> pretty sure one of us is confused. And with great sarcasm I say it ain't me. I mention cash balance and balance sheet and you say 'account balance'. huh?
> Bottom line Uber is flush with cash or near cash. As of 12/31 they had over 11billion in cash and equivalents. Right there for GOD and everyone to see.
> I suspect by end of march, which is the first quarter for those paying attn, they have less. maybe now just 10b, which is what I've been quoting anyway since few undestand 'equivalents' as it relates to a balance sheet.
> 
> Clear as mud? Accounting class dismissed. btw, March 2020 stmts still not released yet as I just looked for them, just for you. Account balance that.


https://finance.yahoo.com/news/uber-surges-saying-cash-cushion-144536414.html
Uber could very well be in serious trouble. The Ceo comes out to reassure stock holder that they have plenty of cash two weeks ago. In his worst case scenario they could drop down to 4 billion in reserves from a 10 billion cash reserve from the end of Feb. This was his worst case projection for the end of this year.

Something to consider is the profitable portion of the business rides has plummeted. Maybe down 80-90%. Now the eats portion of the business has sky rocketed. This was a huge money loser and the real drag on the bottom line. So when your losses are sky rocketing and profits are down to nothing you could be in real trouble fast. If he ends the year with 4 billion that's only about 1 year of working capital.

The government is going to start regulating more after having to pay for all the unemployment costs. Uber stopped construction on expansion in Dallas and Chicago. They also have a hiring freeze. All signs point to troubled times ahead. Time will tell but don't be surprised if they try to raise more funds to keep the business afloat next year.


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## Who is John Galt? (Sep 28, 2016)

June132017 said:


> I wonder what they mean by cash equivalents? Does that mean Euro's? Obviously the Euro's are converted into US dollars for the accounting.


Über Badges.

.


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## nonononodrivethru (Mar 25, 2019)

Uber burns through $5 billion in cash a quarter. And they owe over $4 billion. Their revenue is toast right now, even with UE. And likely will be for a long time.


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## Asificarewhatyoudontthink (Jul 6, 2017)

nonononodrivethru said:


> The Saudis are heavily invested in Uber--one could even consider them the ghost owners of Uber. I think they are desperate for cash to keep Uber afloat so they had to sell a bunch of oil cheap.


Hhahhahaahhhahahahaha

Yeah, has nothing to do with killing the American shale oil and fracking industry at all. 
It is /s all about Uber /s.


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## nonononodrivethru (Mar 25, 2019)

Asificarewhatyoudontthink said:


> Hhahhahaahhhahahahaha
> 
> Yeah, has nothing to do with killing the American shale oil and fracking industry at all.
> It is /s all about Uber /s.


The shale industry isn't going anywhere!

SA is highly invested in the silicon valley. They're eating it across the board presently.

Do you think it's a coincidence they hired a Muslim CEO?


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## Lee239 (Mar 24, 2017)

nonononodrivethru said:


> The Saudis are heavily invested in Uber--one could even consider them the ghost owners of Uber. I think they are desperate for cash to keep Uber afloat so they had to sell a bunch of oil cheap.


Saudi Arabia got into an oil war with Russia, and they increased production to F with Russia.

Saudi Arabia is investing in a lot of different stock market fields in the US since they know oil in not infinite and electric cars are coming and we will have to reduce burning oil to run things or global warming will end all economies.

It has nothing to do with Uber. Uber is worthless and valued at $50 billion or less i'm guessing. They are losing millions a day on top of all the money they were taking in a day ripping off drivers.

$50 billion is chump change to Saudi Arabia, not that they are even half owners.



backstreets-trans said:


> I think this is all a ploy to bankrupt the US shale producers and stymie the electric car innovators. They want to keep us dependent on oil for many years to come.
> 
> Masayoshi Son the CEO of Softbank that made all these bad investments in the gig economy should be worried about the Saudi leaders. They've invested 100s of billions in his fund and it's tanked this year. He might be leaving a future meeting in five different suitcases if he doesn't get his shit together.


The price of oil going down won't deter electric cars.

Plus Trump lowering fuel efficiency standards only helps electric cars.

Trump called for a truce between Russia and Saudi Arabia to help his oil buddies and production is increasing and prices will go up a little

I saw gas at $1.93 near me. When it dropped 20% the gasoline prices didn't drop that much, it takes a while to go down, but they will bump is up 20 cents or more on whim.

People sheltering at home is only gonna make gas prices drop too.


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## tmart (Oct 30, 2016)

nonononodrivethru said:


> The Saudis are heavily invested in Uber--one could even consider them the ghost owners of Uber. I think they are desperate for cash to keep Uber afloat so they had to sell a bunch of oil cheap.


Good time to go long on the stock ticker Uso United States oil fund , it's only 5-6 bucks right now,


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## Johnny Mnemonic (Sep 24, 2019)

backstreets-trans said:


> I think this is all a ploy to bankrupt the US shale producers












https://www.cnbc.com/2020/04/01/the...first-shale-company-files-for-chapter-11.html


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## Asificarewhatyoudontthink (Jul 6, 2017)

nonononodrivethru said:


> The shale industry isn't going anywhere!
> 
> SA is highly invested in the silicon valley. They're eating it across the board presently.
> 
> Do you think it's a coincidence they hired a Muslim CEO?


You do realize that a down market is actually good for investors on the level of Nation States like SA. 
They don't panic. 
They don't sell. 
They buy more. 
Because if you can double your shares with half the original investment you reduce your overall price per share.

It is alkost as if you know nothing about investing.


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## nonononodrivethru (Mar 25, 2019)

Asificarewhatyoudontthink said:


> You do realize that a down market is actually good for investors on the level of Nation States like SA.
> They don't panic.
> They don't sell.
> They buy more.
> ...


You need capital to invest and SA's economy is 70% oil.

They need oil at $80 a barrel to maintain their budget.

My guess is that China put a bid in for 100 million barrels to prepare for a potential war and SA and Russia fell out of their chairs in a price war.

SA is 1000 different kinds of ****ed right now. With the demand drop, even with prices at $80 a barrel they would be ****ed. They needed fast cash.

Imagine it like restaurants right now that are slashing the prices of everything to get any type of cash flow to weather through this.

I don't think you're aware of SA"s financial liabilities, but enjoy your false sense of superiority.


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## Asificarewhatyoudontthink (Jul 6, 2017)

nonononodrivethru said:


> You need capital to invest and SA's economy is 70% oil.
> 
> They need oil at $80 a barrel to maintain their budget.
> 
> ...


Saudi Arabia has cash reserves so large it would make your wenis turn into a mangina you would feel so emasculated.

They started over producing before any stay at home declarations and before any reduced demand. 
Why? Because **** Russia, that's why.

Russia wanted to reduce production because they needed money. 
Saudi Arabia wants to kill off the American oil industry because, as the largest consumers of oil, they are tired of sharing the profits.

You need to learn the joke about 4 Men on a train, a Cuban, a Russian, an American steel worker and an American politician. 
The Cuban hands out 500.00 cigars to the other three men and tosses the rest of the box out the window. They only cost 5.00 so why does he care. 
The Russian pours shots of the most expensive vodka in the world and tosses the bottle out the window. Hell, it only costs him pennies so what. 
The steel worker and the politician make eye contact and the steel worker says "Don't even think about it you panty waste. I can kick your ass three ways to Sunday."

Point of this. 
Oil costs The Royal Family of Saudi Arabia exactly Nothing to produce you idiot because They Are The Only Law In Their Country. 
Literally able to order citizens to die working to produce it. The oil belongs to them and not the people. The equipment the pipelines etc. 
The ships are theirs. 
And OPEC follows Saudi Arabias dictates.

But you keep thinking one of the resource richest nations in the world never "set aside for a rainy day". It isn't as if I care how stupid you look.


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## nonononodrivethru (Mar 25, 2019)

Yup, because Russia and SA sell their oil to the US. 🙄🧐🤔 Nope.

This conversation is over. I will not suffer a fool.


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## Mista T (Aug 16, 2017)

nonononodrivethru said:


> They needed fast cash.


WTF do they need it for? And how would you know this? Sources please, not just "everyone knows" because no, I don't, and I follow this shit.



Asificarewhatyoudontthink said:


> Saudi Arabia has cash reserves so large it would make your wenis turn into a mangina you would feel so emasculated.


SA has $$$ up the wazoo. They don't NEED money. On the contrary, the Saudis will be one of the rich MFers buying up all sorts of industry goodies (not just transportation related) at rock bottom prices. I remember decades ago the Saudis buying a buttload of Citicorp at $5 per share, just as one example.

The Saudis know that eventually they need to diversify from their dependence on oil income. Thus, investments, and lots of them. Do a Google search for, say, the last 20 years on "Saudi Investment" and you might be surprised at how much they don't 'need' money.


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## Youburr (Aug 22, 2019)

Who is John Galt? said:


> OK, so after that expert predictive analysis, I'll look forward to seeing a balance of $10B. Whatever balance you like - I will accept any. &#129315; Obviously it will be no less than $10B because as you would be fully aware, Über has promised an operating profit by the end of 2020, and whatever Über promises, Über delivers.
> 
> Not released yet, really? &#129315; Anybody who knows anything about finance would have realised that.
> 
> .


Uber does not deserve the umlaut.


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## nonononodrivethru (Mar 25, 2019)

Mista T said:


> WTF do they need it for? And how would you know this? Sources please, not just "everyone knows" because no, I don't, and I follow this shit.
> 
> SA has $$$ up the wazoo. They don't NEED money. On the contrary, the Saudis will be one of the rich MFers buying up all sorts of industry goodies (not just transportation related) at rock bottom prices. I remember decades ago the Saudis buying a buttload of Citicorp at $5 per share, just as one example.
> 
> The Saudis know that eventually they need to diversify from their dependence on oil income. Thus, investments, and lots of them. Do a Google search for, say, the last 20 years on "Saudi Investment" and you might be surprised at how much they don't 'need' money.


They're running at a deficit. Their financial reserves are low. Their IPO fell short of projections. Why have an IPO to begin with?

You need cash.


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## Asificarewhatyoudontthink (Jul 6, 2017)

nonononodrivethru said:


> Yup, because Russia and SA sell their oil to the US. &#128580;&#129488;&#129300; Nope.
> 
> This conversation is over. I will not suffer a fool.


America buys a majority of its oil from OPEC.

Do you even know what that stands for?

Are you truly this ignorant that you don't know that the Saudi royal family sets all of OPECs production limits up or down?
The fact that the entire OPEC bows and scrapes at the feet of the Saudi royal family and you act as if we don't buy our oil from them.

Mkay, framing idiot.


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## Mista T (Aug 16, 2017)

nonononodrivethru said:


> They're running at a deficit. Their financial reserves are low. Their IPO fell short of projections. Why have an IPO to begin with?
> 
> You need cash.


We must be talking about different entities. I thought you meant that SA was desperate for money, lololol! Uber wanting more money? Yes, I can def see that.


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## nonononodrivethru (Mar 25, 2019)

Mista T said:


> We must be talking about different entities. I thought you meant that SA was desperate for money, lololol! Uber wanting more money? Yes, I can def see that. :smiles:


No. I'm talking about Saudi Arabia.



Asificarewhatyoudontthink said:


> America buys a majority of its oil from OPEC.
> 
> Do you even know what that stands for?
> 
> ...


No we do not.


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## Asificarewhatyoudontthink (Jul 6, 2017)

nonononodrivethru said:


> No. I'm talking about Saudi Arabia.
> 
> 
> No we do not.


You can say we don't all you want but we buy a very large amount of oil from Opec.

You can just Google it. 
We get some from Venezuela, some from other countries that are not in Opec. But, yeah tons from Opec.


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## nonononodrivethru (Mar 25, 2019)

Asificarewhatyoudontthink said:


> You can say we don't all you want but we buy a very large amount of oil from Opec.
> 
> You can just Google it.
> We get some from Venezuela, some from other countries that are not in Opec. But, yeah tons from Opec.


You just outed yourself as an idiot.


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## Asificarewhatyoudontthink (Jul 6, 2017)

nonononodrivethru said:


> You just outed yourself as an idiot.


Because I know you are wrong?
How does that make me an idiot.

We get 11% of our oil directly from Saudi Arabia , separate from Opec as part of Favored Nation trade.
We get another, roughly, 11% from Opec as a completely unrelated trade.
We buy, on average, 68% of the oil the United States of America uses from foreign nations (which is substantially less
than it used to be).
Meaning we only supply ourselves with 32% of our needed supply (on a good year).

How does knowing any of this make me an idiot?

Or is it the fact that I am still trying to educate an ignoramus like you?


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## Who is John Galt? (Sep 28, 2016)

Asificarewhatyoudontthink said:


> Meaning we only supply ourselves with 32% of our needed supply (on a good year).


That is incorrect.

In 2019, the United States exported about 8.57 MMb/d of petroleum to about 190 countries and 4 U.S. territories. Crude oil exports of about 2.98 MMb/d accounted for 35% of total gross petroleum exports in 2019. The resulting total net petroleum imports (imports minus exports) were about 0.53 MMb/d in 2019.

Top sources and amounts of U.S. petroleum imports (percentage share of total), respective exports, and net imports, 2019
million barrels per day

Import sourcesGross importsExportsNet importsTotal, all countries9.108.570.53OPEC countries1.64 (18%)0.211.43Persian Gulf countries0.96 (11%)0.050.91Top five countries1Canada4.42 (49%)1.013.41Mexico0.65 (7%)1.19-0.54Saudi Arabia0.53 (6%)<0.010.53Russia0.51 (6%)<0.010.51Colombia0.37 (4%) 0.140.24Note: Preliminary data. Ranking in the table is based on gross imports by country of origin. Net imports volumes in the table may not equal gross imports minus exports because of independent rounding of data. 
*The top five destination countries of U.S. total gross petroleum exports, export volume, and share of total petroleum exports in 2019 were*

Mexico-1.19 MMb/d-14%
Canada-1.01 MMb/d-12%
Japan-0.59 MMb/d-7%
South Korea-0.58 MMb/d-7%
Brazil-0.49 MMb/d-6%
===

Gross Imports = 9.10 MMb/d
Exports = 8.57 MMb/d
*Net Imports (top right) = 0.53 MMb/d - which equates to 6% of needs, not 32%*

source:
E.I.A US Energy Information Administration
https://www.eia.gov/tools/faqs/faq.php?id=727&t=6


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## nonononodrivethru (Mar 25, 2019)

I'm sorry, but who is the number one global oil producer?


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## Mista T (Aug 16, 2017)

I will concede that I don't know anything about the inside finances of SA, which means that maybe I'm 100% wrong. Maybe they are in financial trouble.

However, I haven't seen anything other than conjecture, either here or in any news stories, that would lead me to believe they are on the rocks.

Does anyone have anything of real substance that adds to either side, that can be posted here?


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## JohnnyBravo836 (Dec 5, 2018)

nonononodrivethru said:


> The Saudis are heavily invested in Uber--one could even consider them the ghost owners of Uber. I think they are desperate for cash to keep Uber afloat so they had to sell a bunch of oil cheap.


I'll bet between the State Department and the Council on Foreign Relations, the bidding for your consulting advice must be extremely intense.


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## Irishjohn831 (Aug 11, 2017)

They’ve sold plenty of big bucks oil and can wait a long, long time for it to go back to big bucks


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## Asificarewhatyoudontthink (Jul 6, 2017)

Who is John Galt? said:


> That is incorrect.
> 
> In 2019, the United States exported about 8.57 MMb/d of petroleum to about 190 countries and 4 U.S. territories. Crude oil exports of about 2.98 MMb/d accounted for 35% of total gross petroleum exports in 2019. The resulting total net petroleum imports (imports minus exports) were about 0.53 MMb/d in 2019.
> 
> ...


That isn't at all how that works. 
Our exports of American produced oil have nothing to do with our Imports of Foreign oil USED DOMESTICALLY.

In point of fact, exported American Produced oil is very Specifically NOT used domestically.

We import an average of 68%+/- of the Domestically Used Oil. 
We Produce 32%+/-.

I am terribly confused about why you are talking about Domestic Production for export when I am talking about Domestic Use regardless of source.


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## nonononodrivethru (Mar 25, 2019)

Asificarewhatyoudontthink said:


> That isn't at all how that works.
> Our exports of American produced oil have nothing to do with our Imports of Foreign oil USED DOMESTICALLY.
> 
> In point of fact, exported American Produced oil is very Specifically NOT used domestically.
> ...


1. We produce more than we use.
2. We import the most from Canada.

Get lost.


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## percy_ardmore (Jun 4, 2019)

nonononodrivethru said:


> The Saudis are heavily invested in Uber--one could even consider them the ghost owners of Uber. I think they are desperate for cash to keep Uber afloat so they had to sell a bunch of oil cheap.


Then why did they just buy 8% of CCL?


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## nonononodrivethru (Mar 25, 2019)

percy_ardmore said:


> Then why did they just buy 8% of CCL?


That's why they are liquidating. You need cash to buy devalued stocks. I mentioned this above.

Besides, we don't know how hard their overall portfolio got hit.


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## Asificarewhatyoudontthink (Jul 6, 2017)

nonononodrivethru said:


> 1. We produce more than we use.
> 2. We import the most from Canada.
> 
> Get lost.


We import between 30 and 40% from Canada. 
Last time I checked 40% isn't a majority. 
In fact it is less than half. 
And we absolutely do not produce more than we import.

Did you not pay attention to what the last person posted. 
We have a net DEFFICIT between what we sell out than what we buy.

We consume more oil than we can produce.

And, I know, your little pee brain can't process that. 
"but, if we sell oil we must have more than we need."

Wrong. 
We have trade agreements that don't even allow us to do that. We have to sell our oil and we sell it at a net loss to those other countries.

May not be Trumps fault but you don't see him trying to fix it either.


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## hottiebottie (Apr 5, 2020)

so is that where we get our oil and gas qnd shit from?? Arabia?? i never paid atrention in class so i dont know much about shit never thiught i would actually need it in life 🙂


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## nonononodrivethru (Mar 25, 2019)

Asificarewhatyoudontthink said:


> We import between 30 and 40% from Canada.
> Last time I checked 40% isn't a majority.
> In fact it is less than half.
> And we absolutely do not produce more than we import.
> ...


Ooof. It must be sad to be stuck in that operating system of yours.


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## uberdriverfornow (Jan 10, 2016)

If only you people had the same passion for the Covid19 hoax.


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## Who is John Galt? (Sep 28, 2016)

Asificarewhatyoudontthink said:


> I am terribly confused...


And I believe those four words pretty much sum up the situation.

.


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## Asificarewhatyoudontthink (Jul 6, 2017)

Who is John Galt? said:


> And I believe those four words pretty much sum up the situation.
> 
> .


Because someone brought up exportation of domestically produced oil in a conversations about imported oil for domestic use. 
Yeah, quoting me out of context makes me look bad. Sure.


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## ANT 7 (Oct 14, 2018)

The Saudi's are desperate for cash because they can only shake down their rich business people a couple of times before they directly go after MBS themselves.

The social welfare net in Saudi and free benefits for everyone are huge and expensive to maintain, not to mention their proxy war with the Houthi's and military budget must be causing quite a cash drain.

.


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