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eallen

(2,981 posts)

8. First, the US is NOT exporting oil....

Reply to NeoConsSuck (Original post)

Fri May 11, 2012, 10:58 AM

May 2012

We import about 60% of the oil we consume:

http://oilprice.com/Energy/Crude-Oil/Why-the-US-is-Not-About-to-Become-an-Oil-Exporter.html

The US recently did become an exporter of oil products. In other words, we have enough refinery capacity to produce gasoline and other refined products not just for domestic markets, but also some for foreign markets. That says nothing about net oil production or consumption.

Second, if you think there is some trickery keeping gasoline prices high in the US, compare them to gasoline prices in most other nations.

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Highlight:

Big Oil Is Gaming the System to Keep Domestic U.S. Prices High [View all] NeoConsSuck May 2012 OP

We have suspected this for years liberal N proud May 2012 #1

Am I the only person that remembers W talking about 'artificially low gas prices'? Edweird May 2012 #2

I remember him saying that anything over $30 a barrel rurallib May 2012 #6

Global market determines prices. Warren Stupidity May 2012 #3

Until recently WTI has always been priced higher than Brent hack89 May 2012 #4

Canada exports lots of oil and their gas prices are higher than the US (at least last year pampango May 2012 #5

+1 uponit7771 May 2012 #7

First, the US is NOT exporting oil.... eallen May 2012 #8

I thought that high gas prices in other nations Duer 157099 May 2012 #9

Partly. Petrol is the equivalent of US$8/gallon in the UK in part because of taxes. Spider Jerusalem May 2012 #10