So we should ban exports of refined products, shut down some US refineries and you think that will help?
Hell NO!
But just like domestic "big-pharma"...who gives deep discounts to socialist countries, and gouges US patients on their prescriptions, to subsidize the discounts, it should be the other way around.
I don't see any "free market parameters" at work in that example.
If we're such a big-@$$ player in the "global market" of liquid fuels, then the petroleum sector should be able to voluntarily set the "global prices" a little higher, and give domestic sales a discount.
Additionally, domestic speculators should be required to be equipped with physical storage capability equal to the barrels of a commodity they are allowed to leverage via derivatives.
But none of that is going to happen...Is it!
Why should American fuel consumers be satisfied with the "way it is"?
What this article is was describing was exporting our expensive light oil while continuing to import cheaper, heavier oil, keeping the trade advantage to the US.
We still import import 7 million barrels a day of crude oil from other countries. So you want our domestic producers to sell for less than we pay for imports? You want more money going to OPEC and less to American producers? How long do you think that would keep investment for oil production up in this country?
You seem to want those willing to invest and take the risk to sell to you cheaper than market prices. And do that why? If you think there is so much money to be made, invest in those companies.
Additionally, domestic speculators should be required to be equipped with physical storage capability equal to the barrels of a commodity they are allowed to leverage via derivatives.
So you want to put additional requirements, by the government I imagine, that to trade on the New York Commodities Exchange, they have to get special permits proving they actually take physical delivery of oil? You want to limit trading on this one market, to only oil refineries and terminals? Are you going to apply this to all commodities on the exchange, or is the government doing more special interest work treating industries differently? And do you think this would do any different than move the trading to the other markets around the world already trading in oil?
Why should American fuel consumers be satisfied with the "way it is"?
There is a ~35¢/gal difference in the wholesale price of gasoline compared to our WTI crude oil price. Refineries are not making a fortune. You may not be happy, but all your suggestions would only lead to making US gasoline prices higher, not lower.
More government regulation is not the answer. Less interference, less requirements for different recipes, less restriction for those willing to produce, those are ways to lower prices. Not more government selecting who can sell to who.