Anything “might” happen.
If demand for oil is crushed in the USA then we could be energy independent for the foreseeable future with oil at $500 2014 USD per barrel for such things as rocket fuel.
If demand for oil is crushed in the USA then we could be energy independent for the foreseeable future with oil at $500 2014 USD per barrel for such things as rocket fuel.
./.............
Agree. However, unlike the price of natural gas which can vary significantly from region to region because its so hard/expensive to transport—...oil is easily transportable.so international brent prices for oil are within only a couple dollars of US WTI prices.
So there won’t be that great a differential.
As the US crushes demand so will the rest of the world especially europe japan and china.