Every thing is coming up roses in the domestic oil industry and soon we will no longer be dependent on Arab oil (if we ever were).
— except for the American consumers who still pay through their noses at the pump.
— it would be nice if they would take care of the home folks first.
Right now world wide supply and demand are pretty tightly balanced. There is currently a huge surge in demand worldwide. Only a couple countries besides the USA are increasing oil production.
But in a couple years as the fracking revolution moves to other countries and supplies increase—the price of oil/gasoline will fall—as it has for natural gas.
All that’s needed is a rule requiring the national average to fall to a certain level before any oil or gas can be exported.
The price would promptly drop to that price if it was feasible. The same goes for pharmaceutical companies. Need a rule that they can only sell drugs in the US for same price they sell for the world over. If they sell a pill for two dollars in Africa they should not be allowed to sell it for a hundred here.