Seems to me that if we can get cheaper American oil and gas, that’s what we’ll buy.
That’s the point this Bozo fails to grasp. Sure, even with oil independence, we’d still be a player in world markets. But we’d have the ability to ‘buy within’ instead of being dependent on the rest of the world.
The other fact lost here, is that our ‘independence’ would greatly affect the world market in a positive way, our being the largest consumer.
Seems to me that if we can get cheaper American oil and gas, that’s what we’ll buy.
The price of crude is set on the global market. Players enter and withdrawl as the price benefits them. Just yesterday Libia made the comment about getting in on the $100 per barrel. Not that I agree with it but that is the way it works. Seems that if American really wanted to be self-sufficient we’d drill and keep what we find for our selves. I’d love to see that happen, but I am not holding my breath.
Not going to happen. Wellhead prices for US oil and gas wells are set in New York, and follow world pricing in USD. This is good for those who are invested in US gas and oil production. There is no break for the consumer.