[mekrob]

1) It could have to deal with long term contracts. If a certain supplier in A country has a long term deal with B country, then they might as well export if the price is the same (lest they bring on fines, lawsuits, loss of rep, etc). Then the loss in other supplies in A country or A country is growing means that they'll have to import.

2) Grades of oil- Country A might need a certain grade of oil (medium, light, sweet, sour) for their refineries. If they need light, but only produce heavy, then it'd be much cheaper (in the short run at least) to import light than to build the necessary refineries for heavy.

3) Location- Let's say it's a big country like the US. One of their major oil producing regions is far away from the oil consuming regions of that country (like Alaska). It could simply be cheaper to sell to closer nations than the 'host' nation. Thus, they must import oil to compensate for the export. These oil transactions would cancel out.

4) Lack of refineries- Common in the Middle East and America. There is a lack of refineries, so we (and they) must import refined products (gasoline, lube, heating oil, jet fuel, etc).

Just a few reasons. Others could include trade agreements, trade relations, geopolitical relations, etc.

[aflatoxin]

I'm not sure if importing refined products count, but Iran exports oil and imports product. They don't have the infrastructure to process enough of their own oil to supply domestic demand.

IIRC, they pay a lot more for the product than they get for the crude, and most of the profit from the export sales go towards subsidizing the product so it can be sold at far below market rates. Hence, Iran exports oil soley for the purpose of staving off revolution.

[Doly]

Anybody knows the specific reasons for the UK? I've seen that we both import and export oil, and import and export refined products. Which seems rather odd.

[julianj]

Hi Doly,

I'm on holiday, but couldn't resist dropping in

I suspect the answer to your question might be general economic loopiness: we also export around the same amount of yoghurt to Germany as we import from them, which makes no sense at all, except presumably to some capitalist organisation.

[TT]

Australia exports light sweet crude - which is unsuitable to make diesel - and imports heavy crude for this purpose.

I think that perhaps the reason is the same for the UK.

[Tanada]

$this->bbcode_second_pass_quote('Doly', 'A')nybody knows the specific reasons for the UK? I've seen that we both import and export oil, and import and export refined products. Which seems rather odd.

[aflurry]

wider markets provide liquidity and stabilize prices.

if you were forced to buy only from domestic sources, even in a relatively oil-rich country, you would be more exposed to price fluctuation. long term planning would be around energy costs would be more difficult.

it works the same for the sellers. they can have more confidence in their ability to get as return on the production infrastructure investment if they widen their pool of buyers.

[tealeau]

Awesome. Thanks everyone for the info. Much appreciated.

[clv101]

$this->bbcode_second_pass_quote('Doly', 'A')nybody knows the specific reasons for the UK? I've seen that we both import and export oil, and import and export refined products. Which seems rather odd.

[Doly]

$this->bbcode_second_pass_quote('Gideon', 'T')hen a Realtor at the gym tells me that 9 out of 10 of his clients in our suburb who are buyers are using interest only loans.

[Pops]

Hello to you too, Gideon

The big RE bubble poised way too close to the long-commute pin our old location was dependent on prompted our move too. We got out before the music stopped - but not by much. Enjoy the show.

[NEOPO]

Pops - I hope they like horror movies!

Gideon - welcome.

[WildRose]

Welcome, Gideon!

Yeah, the RE thing in our area is crazy, too. The new developments are all very large, expensive homes (no space-saving, affordable structures here) and many of the people purchasing them are young couples with next to no down-payment, no equity from a prior home, etc. Part of the problem is that because the new homes cost so much, renters have to pay around $1500/month to rent a house, so they figure they're better off buying one of these new homes.

I live in a lower middle class, older neighborhood. There are currently four homes just around my block for sale that are smaller (1000 sq. feet, no basement, but large lots), and they aren't moving. Because we're a family of five (with three teens), these homes would be a bit small for us right now, but after our kids move out the size would be perfect. And the lots would be great for a good-sized garden!

I think maybe if more people were aware of some of the problems on the horizon, homes like these ones would be snatched up. I'm glad our home will be paid for in a few years, but I'd also like to find a nice piece of land somewhere.

[HamRadioRocks]

I noticed that I was originally Coal and have now been upgraded to Tar Sands. I've noticed that people with more posts are Oil Shale, then Heavy Crude, then Light Sweet Crude, and one person with over 4000 posts is Fusion.

What is the full spectrum, and how many posts are needed to reach each rating? I'm curious. It sure gives everyone an incentive to post more. I'd rather be labelled "Fusion" (which is environmentally friendly) than Oil Shale (which is notorious for being dirty).

[MonteQuest]

Coal 1
Tar Sands 20
Heavy Crude 100
Intermediate Crude 500
Light Sweet Crude 1000
Fusion 3000

[Heineken]

It's a great system for keeping track of the severity of one's obsessive-compulsive disease and loneliness, ha ha.

Bear in mind, too, HamRadio, that more posts do not necessarily equate with better posts or more informed members. Some of the best contributors are also among the less prolific. And some of the worst achieve the "Light Sweet Crude" rating in a couple of months.

The ranking system is fun, if fairly meaningless.

[NEOPO]

yep fairly meaningless yet I would still enjoy a top poster countdown and any other stats such as "threads started" or "news articles posted" only because I like statistics.

I am pretty sure that my shortest post was "and Neopo wept" and my longest post was a rant full of focused hatred directed toward Johndenver

[Windmills]

Do I get any special abilities or extra hit points for going up a level?

[OkraWhiskey]

No, but if you're lucky, your avatar might get featured in an animated cartoon...

[east2west]

Hello my name in Jason, just signed an oil company up with my service, and I thought I could linger around and read, to try and learn more about his side of things. So far I've learned some pretty interesting stuff.

Thanks