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--- 0_public:geography_and_regions:united_states [2025/01/31 21:12] – [United States] pointnm
+++ 0_public:geography_and_regions:united_states [2025/03/06 23:27] (current) – pointnm
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 ====== United States ======
+Producers need, on average, a $64/bbl price level to drill a new well profitably, according to the Dallas Federal Reserve Energy Survey.((https://archive.ph/5RQcG#selection-1099.338-1099.474)) ((2025))
+<wrap hi>The US imports substantial amounts of aluminium and steel from Canada. Approximately half of the US's aluminium requirements are sourced internationally, with Canada being the largest supplier, contributing 58% of these imports. The United Arab Emirates follows, providing 6%</wrap>, according to US government data. <wrap hi>The US also relies on Mexico and Canada for around 90% of its aluminium scrap imports. Meanwhile, around 23% of steel imports into the US arrive from Canada, followed by Brazil at 16%, Mexico at 12% and South Korea at 10%.</wrap>((https://archive.ph/KOs85#selection-1111.0-1114.0)) ((2025))
+LME aluminium was steady this morning after Trump announced plans to impose 25% tariffs on all imports of steel and aluminium into the US. The US imports significant volumes of aluminium and steel from Canada. In 2023, net US aluminium imports were 44% of its total consumption, with Canada the biggest supplier, accounting for 56% of imports. Meanwhile, around 30% of steel imports into the US arrived from Canada. Only last week, Trump delayed plans to hit Canada and Mexico with general import duties of 25%.((https://archive.ph/Cx3nu#selection-1103.0-1106.0https://archive.ph/Cx3nu#selection-1103.0-1106.0)) ((2025))
   * <wrap hi>the largest producer and consumer of crude oil</wrap>.((https://archive.ph/rBNyM#selection-8105.0-8108.0)) ((https://archive.ph/Yg3N1#selection-8091.0-8091.53)) ((2024))
   * producing around 13.5 million barrels per day of oil (2024)((https://archive.ph/n388s#selection-8113.0-8113.180)) ((2024))
-“If this also affects crude oil, around 4.5 million barrels or almost 70% of daily US crude oil imports would become significantly more expensive suddenly,” Fritsch said.((https://archive.ph/BPvDw#selection-8011.0-8014.0))
-“It is impossible to source this volume elsewhere in the short term, especially as the oil from Canada and Mexico is urgently needed by US refineries due to its special characteristics (density, sulphur content) and cannot be replaced by light US shale oil,” according to Fritsch.((https://archive.ph/BPvDw#selection-8023.0-8026.0))
 The U.S. is, for this reason, still a
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 Already, refining is a tougher business than it was a couple of years ago, partly because U.S. demand for diesel has weakened.((https://archive.ph/4LMiP#selection-1249.0-1256.0)) ((2025))
+Most oil produced in the United States is, in the telling of industry experts, akin to a light beer, while the crude imported from Canada and Mexico is more like a thick molasses. <wrap hi>Refineries are set up to use a combination of the light and heavy oils</wrap>.((https://archive.ph/4LMiP#selection-1339.0-1342.0)) ((2025))
+===== Gasoline =====
+The average price of regular gasoline on Friday was $3.11 a gallon nationally, according to AAA, the motor club, in line with prices this time last year. <wrap hi>In the Midwest, gasoline is generally cheaper than the national average</wrap>.((https://archive.ph/4LMiP#selection-1323.0-1326.0)) ((2025))
 ===== Oil =====
+“This is probably due to the fact that <wrap hi>Canada is by far the US’s most important oil supplier</wrap>,” Carsten Fritsch, commodity analyst at Commerzbank AG, said.((https://archive.ph/Eq82B#selection-7957.0-7960.0)) ((2025))
+Last year, the US sourced more than 4 million barrels of its daily crude oil imports from Canada, according to data from the US Energy Information Administration.((https://archive.ph/Eq82B#selection-7961.0-7964.0)) ((2025))
+“This corresponded to more than 60% of total US crude oil imports. Mexico accounted for around 470 thousand barrels per day or 7% of daily US crude oil imports,” Fritsch said.((https://archive.ph/Eq82B#selection-7973.0-7976.0)) ((2025))
+Oil from Venezuela could be considered a substitute due to its similar quality and geographical proximity.((https://archive.ph/Eq82B#selection-8017.0-8020.0)) ((2025))
+Brazil and Guyana are also considered possible suppliers of the heavy sulphur-rich oil required by US refineries.((https://archive.ph/Eq82B#selection-8029.0-8032.0)) ((2025))
+“If this also affects crude oil, around 4.5 million barrels or almost 70% of daily US crude oil imports would become significantly more expensive suddenly,” Fritsch said.((https://archive.ph/BPvDw#selection-8011.0-8014.0))
+“It is impossible to source this volume elsewhere in the short term, especially as the oil from Canada and Mexico is urgently needed by US refineries due to its special characteristics (density, sulphur content) and cannot be replaced by light US shale oil,” according to Fritsch.((https://archive.ph/BPvDw#selection-8023.0-8026.0))
 Shipments from Canada and Mexico can’t be replaced((https://archive.ph/rBNyM#selection-8049.0-8066.0)) ((2024))
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 Among those likely to take a hit if Mr. Trump does not exempt fossil fuels are Canadian oil producers and U.S. refiners, particularly those in the Midwest that process a lot of Canadian oil and lack a ready substitute. American consumers in regions that depend on oil from Canada also could see slightly higher prices at the pump, particularly if fuel makers were to respond by cutting production. Gasoline prices in the Midwest could climb 15 to 20 cents a gallon, with more muted effects in other parts of the country, said Tom Kloza, global head of energy analysis at Oil Price Information Service.((https://archive.ph/4LMiP#selection-1169.0-1172.0)) ((2025))
+===== Petroleum Products =====
+The US could have also reduced its oil product exports. In the first eleven months of last year, the US exported an average of just under 3.2 million barrels of refined petroleum products per day.((https://archive.ph/Eq82B#selection-8071.0-8074.0)) ((2025))
+Nearly 1.3 million barrels of diesel and almost 800 thousand barrels of gasoline were accounted for per day.((https://archive.ph/Eq82B#selection-8075.0-8078.0)) ((2025))
+“The US has also become an important diesel supplier for Europe after diesel shipments from Russia ceased due to the EU import ban in early 2023. For this reason, import tariffs would lead to a shortage of diesel supply in Europe,” Fritsch said.((https://archive.ph/Eq82B#selection-8087.0-8090.0)) ((2025))
 ===== Coal =====