[Miss Marple]

I see your point about them not being able to afford to shut their wells down. However, wouldn't they have other buyers they could sell to rathe than the US? Like...China, France, etc.

I don't know enough about the oil market to make intelligent comments about it. I assume that Morris has to report some facts...like the political orientation of the candidates in Mexico. On the other hand, Morris IS a weasel and not that smart outside of his comfort zone.

I am going to see if I can find out the truth.

[Dog Gone]

The best way to envision it is that oil goes to the highest bidder. And that bid is going to be set, in general, by the NYMEX spot market on the day the title to oil is transferred.

But it all goes onto the world market.

We haven't bought any Iranian crude in over 25 years, and we used to. All that means is that Iranian crude goes to a market previously served by Saudi Arabia or Venezuela. It doesn't really affect us or Iran. It only changes the shipping lanes.