Texas could be self sufficient?

[crazy2medic]

Here is my question for those that may know!
Texas has most of the Refineries, Texas has the oil wells and gas wells, so why can't Texas refine our own petroleum, distribute it to Texas gas station and drive gas prices in Texas down?

[carlson1]

I own four wells that have produced a huge $12.00 in 2021. They are not even pumping anymore. It has been that way for about 8 years. My grandmother passed them down. They are in Wood County and they just sent a letter saying they were suspending them until a later date.

[powerboatr]

I own four wells that have produced a huge $12.00 in 2021. They are not even pumping anymore. It has been that way for about 8 years. My grandmother passed them down. They are in Wood County and they just sent a letter saying they were suspending them until a later date.

a friend of mine also in wood county has several on his deer hunting land...he used to be rolling in the dollars
same story they seem to stop pumping.

we have 6 on our highway to town on 154 and all 6 sit idle not running
but this morning on hwy 37 towards mineola one was pumping
there has to be a reason ?????? why or what i would love to know

[03Lightningrocks]

I own four wells that have produced a huge $12.00 in 2021. They are not even pumping anymore. It has been that way for about 8 years. My grandmother passed them down. They are in Wood County and they just sent a letter saying they were suspending them until a later date.

a friend of mine also in wood county has several on his deer hunting land...he used to be rolling in the dollars
same story they seem to stop pumping.

we have 6 on our highway to town on 154 and all 6 sit idle not running
but this morning on hwy 37 towards mineola one was pumping
there has to be a reason ?????? why or what i would love to know

It sounds like the wells have run dry.

[carlson1]

I own four wells that have produced a huge $12.00 in 2021. They are not even pumping anymore. It has been that way for about 8 years. My grandmother passed them down. They are in Wood County and they just sent a letter saying they were suspending them until a later date.

a friend of mine also in wood county has several on his deer hunting land...he used to be rolling in the dollars
same story they seem to stop pumping.

we have 6 on our highway to town on 154 and all 6 sit idle not running
but this morning on hwy 37 towards mineola one was pumping
there has to be a reason ?????? why or what i would love to know

It sounds like the wells have run dry.

Citi-go I believe is the ones working it. They just said they were “suspending” for at least six years. Doesn’t sound dry to me. I do know they had me sign a new lease. I don’t know I just know I am in the “oil business” with no money. They have offered to buy them so that tell me that there is something still good there.

[03Lightningrocks]

I own four wells that have produced a huge $12.00 in 2021. They are not even pumping anymore. It has been that way for about 8 years. My grandmother passed them down. They are in Wood County and they just sent a letter saying they were suspending them until a later date.

a friend of mine also in wood county has several on his deer hunting land...he used to be rolling in the dollars
same story they seem to stop pumping.

we have 6 on our highway to town on 154 and all 6 sit idle not running
but this morning on hwy 37 towards mineola one was pumping
there has to be a reason ?????? why or what i would love to know

It sounds like the wells have run dry.

Citi-go I believe is the ones working it. They just said they were “suspending” for at least six years. Doesn’t sound dry to me. I do know they had me sign a new lease. I don’t know I just know I am in the “oil business” with no money. They have offered to buy them so that tell me that there is something still good there.

I am with you on that. They wouldn't want to buy them if they were dry holes.

[LTUME1978]

A large part of the refineries in Texas are set up to process heavy crude oil (supplied by Mexico, Venezuela, Saudi or Canada). Mexico supplies the refinery that they now own 100% in Deer Park (formerly was a joint venture with Shell). The fuel that is made there goes back to Mexico (because Mexico can't keep their refineries running). Venezuela is off the market (due to a communist dictator that has destroyed their oil business with the largest oil reserves in the world). The US wants to block importing oil from Russia. Saudi can supply some of the needs for the heavy oil as can Canada (in much larger quantities). The Biden administration needs to approve the pipeline to get more heavy crude from Canada to Texas.

The oil produced from the _______ process is light crude and is not suitable to be processed in a lot of the refineries in Texas. That is why Texas exports a lot of the light crude to the older refineries in the northeast US or outside of the US. They then import import the heavy crude that many of the refineries in Texas need.

As for as selling gasoline at a lower cost just in Texas, that won't happen for a lot of reasons. The best way to get prices down is to produce a lot more crude oil and go back to being a net exporter as we were during the Trump era.

[powerboatr]

one thing our governor has the power to do right now that would make a small difference is to direct the state comptroller to stop collecting federal and state taxes on fuel sold in texas for 6 months for only vehicles registered in texas.
thats 18 cents for gas and 24 for diesel per gallon for the fed tax and with hold state excise tax of 20 cents per gallon.
yes dc would come unglued and make threats. but in the end they cant withhold monies already set aside for federal roads in texas.

it would worm its way through court, but not before nov 22 elections

[Soccerdad1995]

Here is my question for those that may know!
Texas has most of the Refineries, Texas has the oil wells and gas wells, so why can't Texas refine our own petroleum, distribute it to Texas gas station and drive gas prices in Texas down?

Putting aside the logistical problems, there is also the problem of basic economics. There is a global market for oil, so all oil that is drilled has a fair market value that is set by global supply and demand. If that value is, say $100 at a given time, then the oil producer is $100 wealthier as soon as he, or she, pulls a barrel out of the ground. Yes they could choose to sell it for less, and the refiner could then choose to sell gasoline they produce for less than the market rate. But they would be doing so out of the kindness of their hearts. This is really no different than oil well owners choosing to donate some portion of their profits directly to Texas drivers.

It's really the same as the housing market. If you own a home, you are wealthier than you were a year ago because the value of your home has increased. You could choose to be nice and sell your house for what it would have sold for 5 years ago. Or you could sell it for the current market value and then donate that price difference directly to first time home buyers in your community. Guns and ammo would be another example of this.

This, or course, assumes a capitalist system with private ownership of oil wells, refineries, etc. If the state decided to mandate that Texas oil needs to stay in Texas and then also set the price for oil and gasoline, we could see a lower price at the pump. But this would be a socialist, or communist, system which is inherently less efficient than a capitalist system, so that would offset any potential price reductions somewhat.

[Flightmare]

one thing our governor has the power to do right now that would make a small difference is to direct the state comptroller to stop collecting federal and state taxes on fuel sold in texas for 6 months for only vehicles registered in texas.
thats 18 cents for gas and 24 for diesel per gallon for the fed tax and with hold state excise tax of 20 cents per gallon.
yes dc would come unglued and make threats. but in the end they cant withhold monies already set aside for federal roads in texas.

it would worm its way through court, but not before nov 22 elections

This would also require fuel stations to be the enforcers of this and would therefore increase overhead on their end. It would also likely require a software update to the POS systems, both at the register and the pumps themselves. People would likely have to enter their Texas license plate (and many would likely enter whatever Texas plate they can see from their gas pump).

[powerboatr]

one thing our governor has the power to do right now that would make a small difference is to direct the state comptroller to stop collecting federal and state taxes on fuel sold in texas for 6 months for only vehicles registered in texas.
thats 18 cents for gas and 24 for diesel per gallon for the fed tax and with hold state excise tax of 20 cents per gallon.
yes dc would come unglued and make threats. but in the end they cant withhold monies already set aside for federal roads in texas.

it would worm its way through court, but not before nov 22 elections

This would also require fuel stations to be the enforcers of this and would therefore increase overhead on their end. It would also likely require a software update to the POS systems, both at the register and the pumps themselves. People would likely have to enter their Texas license plate (and many would likely enter whatever Texas plate they can see from their gas pump).

i think a simple software change on the POS system could simply remove the 44 or 38. might be hard ot stay only for texas plated vehicles. heck that is really not a big deal.

we lived in north florida for 19 years and drove almost every 2 weeks to GA to fill up as they were 20 cents less. ga never seemed to have an issue.
i am tossing everything at the white board

[rtschl]

Regarding dry wells vs. shutting them down... Two big items at play here:

1. Congressional Democrats and the Administration intentionally demanded oil companies lower production of oil and gas
2. Blackrock (largest investment firm) ESG (Environment, Social and Governance) policies is forcing oil companies to embrace climate transition and stopping investment in exploration and drilling

So the US government and the most powerful investment money manager firm are essentially forcing Oil companies out of the oil business.

1. https://freebeacon.com/politics/how-dem ... as-prices/
Despite reassurances from the White House that it is doing nothing to discourage oil companies from opening new drill sites, President Joe Biden's allies in Congress just months ago pressured oil executives to decrease outputs because of climate change, raising questions about the Democratic Party's strategy to lower prices for consumers.

In late October, for example, the House Oversight and Reform Committee called in the CEOs of Exxon, BP, Shell, and Chevron to explain what steps they are taking to produce less oil and gas, with Rep. Hank Johnson (D., Ga.) alleging that "the world can't wait" any longer. At the time, gas prices were hovering around a 10-year high.

2. https://oilprice.com/Energy/Energy-Gene ... anies.html
And make no mistake about it: With nearly $9 trillion of investments under its watch, BlackRock can certainly throw its weight around. Indeed, last year, the firm voted against 69 companies and 64 company directors for climate-related reasons while placing another 191 companies on watch.

BlackRock plans to put oil and gas companies under the clamps by creating a ‘‘temperature alignment metric’’ for both its public equity and bond funds with explicit temperature alignment goals, including products aligned to a net-zero pathway.

[J.R.@A&M]

Here is my question for those that may know!
Texas has most of the Refineries, Texas has the oil wells and gas wells, so why can't Texas refine our own petroleum, distribute it to Texas gas station and drive gas prices in Texas down?

Putting aside the logistical problems, there is also the problem of basic economics. There is a global market for oil, so all oil that is drilled has a fair market value that is set by global supply and demand. If that value is, say $100 at a given time, then the oil producer is $100 wealthier as soon as he, or she, pulls a barrel out of the ground. Yes they could choose to sell it for less, and the refiner could then choose to sell gasoline they produce for less than the market rate. But they would be doing so out of the kindness of their hearts. This is really no different than oil well owners choosing to donate some portion of their profits directly to Texas drivers.

It's really the same as the housing market. If you own a home, you are wealthier than you were a year ago because the value of your home has increased. You could choose to be nice and sell your house for what it would have sold for 5 years ago. Or you could sell it for the current market value and then donate that price difference directly to first time home buyers in your community. Guns and ammo would be another example of this.

This, or course, assumes a capitalist system with private ownership of oil wells, refineries, etc. If the state decided to mandate that Texas oil needs to stay in Texas and then also set the price for oil and gasoline, we could see a lower price at the pump. But this would be a socialist, or communist, system which is inherently less efficient than a capitalist system, so that would offset any potential price reductions somewhat.

This. Texas contains refineries, oil wells, and gas wells, but those facilities and resources are mostly not the State's. They may be ours individually (some of us, and other non-Texan individual owners) but they are not ours collectively. Nor would I want them to be.

[SewTexas]

setting aside the oil for a bit, although I think we'd be able to work it out.
we have plenty of farm land, we could easily produce our own food. We already have our own electrical grid.

There have been a few studies on it in books, fiction. One of the best was in The Ayes of Texas, back in the 90's....I haven't read it in a long time, but need to dig it out and read it again.