Why not flood the U.S. to deter the ever-increasing price here?
The net result is more barrels available for purchase on the market which means lower prices for everyone.
Well, it’s just business. The Markets are working.
Americans can sell crude at a higher price to Europeans than they can get for the same crude in America. The higher price is still below that of the Russian or OPEC crude.
This slight imbalance tightens supply somewhat within America and the refined products price increases some.
The goal is to make a profit, not to have cheap gas
The market for crude oil is worldwide. Oil sells at the highest price. That’s capitalism.
The only way to keep oil here is to have government force private companies to sell here. We don’t want that heavy hand on our businesses. Government can subsidize payments to petro companies to keep it here, and we don’t want that either.
Russia and OPEC are using outdated tactics in an attempt to maximize profits with the assumptio of leverage they no longer have with USA and other oil production.
Barring exteme circumstances, it will work itself out in short order. It always has.
Why not flood the U.S. to deter the ever-increasing price here?
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It’s temporary. Giving OPEC and Russia a bloody nose has long term benefits.
IYou are perhaps advocating a banon exports? That would cause the American oilcos to reduce output to keep the price from falling and you would wind up with increasing prices above those which would pertain on the free marrket for lil because it would be an additional reduction of world oil production over that of OPEC and Russia. As the American price rises it would draw more production but the price would stay relatively higher because of the limited market.