Quote:
Originally Posted by look 171
What's with the slight price drop anyway? Election year ?
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No.
1. Oil is bought and sold at the global level
2. U.S. oil companies pump what they want because capitalism (so many folks on the Right want to nationlize the oil industry so we have cheap gas but that's another story.
3. Oil pumped by U.S companies isn't "our" oil. It's priced and sold on the global markets. Some stays here, some goes overseas.
4. The Saudis can pump and ship oil to the U.S. cheaper than we can pump it (S or L can provide details)
5. The U.S. is currently pumping more oil than it ever has and more than anyone else in the world
6. OPEC+ will have to do something about (more than they have been) that because capitalism