Gas prices keep climbing as the U.S. produces record levels of oil and supertankers about to crowd the Gulf Coast, waiting to ship it abroad. So what’s actually driving this trend? Like in many developing countries, massive oil reserves haven’t translated into cheap fuel, leaving everyday consumers paying high prices at the pump. Is the U.S. beginning to experience that same gap between abundance and affordability?
https://www.wsj.com/business/energy-oil/u-s-oil-blockade-is-set-to-boost-american-exportsand-prices-at-the-pump-005e1a70?reflink=desktopwebshare_permalink
Posted by mattredditac
2 Comments
When 20% of world oil supply is abruptly removed from the market with much of that infrastructure damaged the US supply of oil and refined products will have lots of bidders.
There is no paradox?
1) USA messes up oil trade
2) oil prices go up
3) USA makes oil companies rich by selling more oil at a higher price than than before
4) oil prices in USA go up