Alaska’s elected leaders say we should produce more oil on the North Slope to make up for the ban on importing Russian crude. But energy experts say it’s not so simple.
Imagine you’re planning to serve champagne at your wedding. Just as you’re about to head down the aisle, the caterer pulls you aside and says, “By the way, couldn’t get you champagne, but we’ve got plenty ofWell, it’s kind of like that with crude oil. There are different grades and different flavors. Some are light and flow easily. Some are heavy like sludge. It can be sweet or sour, which is about sulfur content. The specifications for crude go on and on.
The refining firms, particularly the big ones that have facilities on the Gulf of Mexico, made a bad bet, he said. “It turns out to be cheaper to use that technology to process imported crude and export the light sweet crude to somewhere else,” he said. “The U.S. West Coast is really the captive market for ANS,” said Matt Smith lead oil analyst for the Americas at Kpler, a data firm that tracks shipments of commodities around the globe for industry and financial traders.
Those imports were already dropping by the time President Biden announced a ban on Russian imports, Smith said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crude logic: 3 reasons why Alaska's oil can't replace Russian imports - Alaska Public MediaAlaska’s elected leaders say we should produce more oil on the North Slope to make up for the ban on importing Russian crude. But energy experts says it’s not so simple.
Read more »
Russia-Ukraine war: Russian strikes hit edges of Kyiv, western city of LvivRussian strikes on Friday hit the edges of Kyiv as well as Lviv, close to Ukraine’s western border with NATO countries such as Poland.
Read more »
Russian lawmaker demands return of Alaska, California's Fort RossA Russian lawmaker made an outlandish demand over the weekend that the United States return Alaska and a historic settlement in California, in addition to paying reparations to Russia over crippling American-led sanctions that have put Moscow's economy in a tailspin.
Read more »
Crude logic: 3 reasons why Alaska's oil can't replace Russian imports - Alaska Public MediaAlaska’s elected leaders say we should produce more oil on the North Slope to make up for the ban on importing Russian crude. But energy experts says it’s not so simple.
Read more »
Coal Threatens a Comeback as the EU Pulls Away From Russian OilEurope's efforts to avoid Russian energy imports will likely trigger a short-term spike in coal, and environmentalists are concerned.
Read more »