I heard yesterday that they ship their crude out to be refined then ship it back and, because of nationalization of their oil industry, sell the refined gas for a penny. WTH?
This needs to be a lesson to every Freeper who likes to refer to “our oil” and then proceed to explain how we should “keep it here”, tax foreign oil, “reign in gas prices”, eliminate our reliance on imported oil, etc.. Many of them favor the government doing something that ranges from controlling prices to restricting distribution and subsidizing production and yet somehow putting a floor under prices.
If you wish to avoid a petro dictatorship like this craphole, Russia, and the entire ME then all energy resources but especially extractive energy resources should be left alone and free from government interference and control. All energy deposits on public lands should be sold.
It is messy. It makes the US subject to international markets on supply and pricing but the tremendous wealth that is generated cannot be funneled to cronies and tyrants.
“I heard yesterday that they ship their crude out to be refined then ship it back and, because of nationalization of their oil industry, sell the refined gas for a penny.”
mostly correct. the reason they have to import refined petroleum products is that their refineries are no longer viable due to neglect, theft, and fleeing workers not being paid enough to buy food ... the penny a gallon gas is a long standing socialist perk for the masses ...