“still waiting for this to translate into lower gas prices.”
It has already happened.
Gas was over $4/gallon a few years ago, and we pay lower prices than Europeans today, even after taxes are removed (because our West Texas Intermediate costs less than their Brent).
Basically, US production roughly keeps global oil prices in the “Shale Band” of $45-65/bbl.
We would have to ramp up production big time to keep up with demand however, if the global economy takes off.
message me when it’s back to a $1 a gallon like it was during W’s term, since we are in the biggest boom in world history..
I would just like them to remove the ethanol mandate that so many states have adopted. Of course, the fuel stabilizer manufacturers would be upset.