Quote:
Originally Posted by The_Waco_Kid
the worldwide price of oil can be high while domestically the price of gas in the US can be low. that happens when you have a net surplus. why is that so complicated for you, professor?
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And this is the stupidest thing I've read in this thread if we discount everything LexusLover has written and 98% of what lustylad has posted!
Speaking of...maybe our resident economist can explain to the world how we can have high world wide oil prices , yet cheap domestic gasoline prices.
Quote:
Originally Posted by Tiny
Yada Yada. We all know that oil prices are set by worldwide supply and demand, and OPEC + Russia has the ability to affect supply through quotas.
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Let's just stop right there and discuss wtf you just said....you and lustylad seem in sync with this POV as do I.
Where you two sugar pants go off the reservation is in your inability to comprehend wtf that truly means.
I think it means our ability, given our private tier energy sector, to be energy independent is governed more by outside forces (Russia OPEC...) than internal ones. Imho you two are playing partisan politics by giving the President (whomever it may be) too much credit/blame.
Quote:
Originally Posted by lustylad
Nobody is saying if we get the US back to (net) energy independence, it will ipso facto lower global oil & gas prices. That's a straw man argument. But it will help us to withstand "supply shocks" elsewhere in the world. And it obviously increases our leverage in situations where a major energy producer like Russia is misbehaving.
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Please tell me how we'd have any more leverage to stop Putin from invading Ukraine if we could instantly turn on (we can't) and start pumping a million more barrels.
You do realize we were energy independent in 2021? If it is such a great thing....how come you haven't patted Biden on the back?