I saw a piece recently regarding the folly that "drill, baby, drill!" would lower 'murcan prices at the pumps.
Basically,' murca would have to sell it's own production and continue to buy in the stuff it uses, because they don't have the infrastructure to refine their own crude into "gasoline".
Refiners are thought unlikely to invest tens of billions into new refinery infrastructure, which would take years to come online anyway.
OPEC throttle supply, to control the price of oil worldwide. More crude? OPEC just slow their production, to inflate the price.
And, because 'murca isn't in OPEC, the stuff they need (and therefore, buy in), becomes more expensive anyway.
Sounds plausible?
Basically,' murca would have to sell it's own production and continue to buy in the stuff it uses, because they don't have the infrastructure to refine their own crude into "gasoline".
Refiners are thought unlikely to invest tens of billions into new refinery infrastructure, which would take years to come online anyway.
OPEC throttle supply, to control the price of oil worldwide. More crude? OPEC just slow their production, to inflate the price.
And, because 'murca isn't in OPEC, the stuff they need (and therefore, buy in), becomes more expensive anyway.
Sounds plausible?

