Posted on 07/18/2022 6:19:01 AM PDT by artichokegrower
The US is exporting diesel at the fastest ever rate as the global market’s thirst for fuel remains insatiable.
As much as 1.39 million barrels a day of diesel has left the US Gulf Coast so far this month, around 10% higher than the previous daily record for month set in July, 2017, according to oil analytics firm Vortexa, which began trading the data in 2016. Adding gasoline, fuel exports out of the Gulf Coast topped 2 million barrels a day in the first half of July, also a record.
(Excerpt) Read more at gcaptain.com ...
They will be incentivized to produce as much as possible to satisfy the domestic market and then to export and sell abroad. Since there isn’t a monopoly, I’m not worried about collusion among the oil companies - which would be a crime anyway.
In your hypothetical, obviously the price at which gas sells in the US is not going to be below the cost of production. World prices would likely be higher than US prices given that the US is the largest oil/gas producer in the world while many other countries have to buy all of theirs from foreign sources.
This was a big mistake:
U.S. Repeals Longstanding Ban on Export of Crude Oil
That being the case, the subject is refined diesel fuel and it is unconstitutional to tariff exports. So there is very little patriots can do about it.
Also, our federal taxes pay for fuel used by the federal agencies like the USPS. To keep up with higher prices, they will have to raise taxes on us to keep up with this.
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