Posted on 05/13/2014 6:52:05 PM PDT by re_tail20
If crude is selling for $100/bbl delivered to the USA and the cost of production in whogivesash!t is $40/bbl with another $10 in payoffs and another $10 for security and another $10 for transport, that oil has less margin than domestically produced oil at $65.
This push by the producers is a clear indicator the overall cost of delivery is less in the USA than oil sourced elsewhere.
However, that is NOT a reason to allow export. The reference "glut" mentioned by the author has not materialized and will not until domestic oil is above 10mil bbl/day.
A far better move would be to tariff all imported oil by $25/bbl flat.
And drill, drill, drill.
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