Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Lorianne

Oil is sold on the world market. If we are not paying top dollar for it (wherever it is extracted), then it goes elsewhere, not here.
................
Currently US law forbids the export of raw oil. (However, refined gasoline is allowed for export.)

That’s what keeps US oil below international prices.

However, starting sometime after 2020—the USA is going to experience serious demand destruction because of the change over from oil fueled houses, trains, trucks and buses to natural gas fueld houses trains trucks and buses. More important will be the change over to electric cars.

These two developments after 2020 will eat into demand for oil and force prices down.


39 posted on 08/17/2014 9:10:33 PM PDT by ckilmer (q)
[ Post Reply | Private Reply | To 38 | View Replies ]


To: ckilmer

How much below international price does a barrel of US crude oil sell for?


40 posted on 08/18/2014 6:28:32 AM PDT by Lorianne (fedgov, taxporkmoney)
[ Post Reply | Private Reply | To 39 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson