HaulingAss
Well-known member
- Joined
- Oct 3, 2020
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- Western Washington, USA
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The oil market is a global market. The fact that the U.S. could theoretically supply all of of our own oil for an unknown, but finite, amount of time is inconsequential. It's meaningless due to the global nature of oil markets. That's because the cost of oil production varies widely depending on where and how it needs to be extracted and cheaper always wins. When the U.S. burns a barrel of domestic oil, it's still supporting the oil market (that's one barrel that won't be exported).Our wars are mostly fought to fund the Defense Industrial Base a.k.a. the Military Industrial Complex because Blackrock has the vast majority of our representatives under control.
We have more than enough oil and natural gas within our country and are not in need of OPEC.
The vast amount of disinformation/propaganda that has formed public opinion is mind-blowing.
Or, if we consume oil from a friendly country like Norway, that still supports the oil prices in the Middle East. That's what I mean when I say the oil markets are global in nature. It's the consumption of oil that supports oil producing nations, it doesn't matter if we buy it from the Middle East, Norway or produce it ourselves, the cheapest oil to extract will always have a market, as long as there is demand for oil. Only by curing our economic addiction to oil in general can we fix the problem. Producing more of it domestically just increases supply, which lowers global prices, which increases global demand.
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