[thackney]

higher bidders overseas

It is a fungible market. Why do you believe the US pays below market rates, even lower than cost of moving oil around the world?

[Theoria]

If increased exports lead to lower prices Domestically you will get a nice FR donation in your name. There is some delay in pricing, but say 18 months come back to this. This includes all outside variables, economy, war and such.

Bookmark

[ChessExpert]

“It is a fungible market. Why do you believe the US pays below market rates”

You’ve presented data that shows that the US has been increasing production of oil faster than anyone else. Our producers wanted to export, but it was illegal.

With the increase in domestic supply (that cannot be exported), I would expect US prices to be lower than world prices. On the other hand, decreased imports could match increased US production barrel for barrel, suggesting a world-wide decline in prices. So even if oil were completely fungible, it’s a little bit complicated.

Do you have data on changing oil prices around the world?