“Oil is fungible. Let the Chinese and Canadians do what they think is best. Let us do what we think is best. As long as oil is being pumped, the market will make it available to any buyer.”
Good to see someone on this thread who could pass a high school economics class.
“Oil is fungible. Let the Chinese and Canadians do what they think is best. Let us do what we think is best. As long as oil is being pumped, the market will make it available to any buyer.”
I certainly agree that oil is fungible. However, I disagree with your basic point because Obama is preventing rational action. Private companies want to build a pipeline to transport the oil to Gulf coast refineries. Obama is preventing this allocation of resources, forcing his idiotic choices (higher energy prices and energy shortages) on us. Your point would be valid if private individuals did not want to build the pipeline but Obama forced them to build it.
Americans should note that NAFTA prohibits Canada from reducing the proportion of oil and gas that goes to the U.S.A. That guarantees you a supply; so long as we have one. However, if you stop buying as much; then we're not obligated to sell you more, if you change your mind. If certain U.S. ‘greenies’ and politicians have their way, the U.S. would stop buying oil from the oil sands. We would then not be obligated to sell it to you in the future. If this pipeline is built, you'd have to compete in the world market for it. If China has it sewed up in contracts — then that would be that.