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Why must our domestic oil price be set by any other dynamic other than a domestic issue?

Posted on 3/18/26 at 2:21 pm
Posted by Timeoday
Easter Island
Member since Aug 2020
21697 posts
Posted on 3/18/26 at 2:21 pm
We are a net exporter of oil and gas. Obviously, that price must differ. However, why must Americans pay a premium for oil and gas gathered here, refined here, that stays here?
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
473354 posts
Posted on 3/18/26 at 2:25 pm to
Are you suggesting adopting socialist price controls to manipulate the price of commodities created by the free market?
Posted by deeprig9
Unincorporated Ozora
Member since Sep 2012
74892 posts
Posted on 3/18/26 at 2:25 pm to
the alternative is socialism.
Posted by JiminyCricket
Member since Jun 2017
6397 posts
Posted on 3/18/26 at 2:27 pm to
You know, you could just answer the question because the OP and others may not know how it all fits instead of being a penis about it.
Posted by Boston911
Lafayette
Member since Dec 2013
2429 posts
Posted on 3/18/26 at 2:30 pm to
Eh sort of, we import a lot of oil because we cannot process light sweet crude in enough volume to satisfy our use.
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
473354 posts
Posted on 3/18/26 at 2:31 pm to
quote:

You know, you could just answer the question

With my question I did.

We can manipulate the free market to do all sorts of stuff via government action. That's socialism though. Why would we want to act like Communists? Why would we ignore the failures of these policies throughout history? Why would we ignore political principle to be communists?
Posted by WoodCrafter
Member since Jan 2010
1235 posts
Posted on 3/18/26 at 2:31 pm to
quote:

We are a net exporter of oil and gas. Obviously, that price must differ. However, why must Americans pay a premium for oil and gas gathered here, refined here, that stays here?


Because it is a world market and the oil we produce doesn't just stay here. Unless you want to remove the incentive for companies to find and extract oil to control the price, which will result in an immediate halt to all production.
Posted by Lynxrufus2012
Central Kentucky
Member since Mar 2020
19649 posts
Posted on 3/18/26 at 2:32 pm to
Some of our domestically produced oil goes to other countries like Japan while we still import some.

I don’t doubt there is some opportunistic gouging going on, but there is a world market at work. The oil companies are going to sell for the highest price.
Posted by Red Stick Rambler
https://i.imgur.com/2j5cbGm.jpg
Member since Jun 2011
2429 posts
Posted on 3/18/26 at 2:36 pm to
How do you think oil prices are set?
Posted by Timeoday
Easter Island
Member since Aug 2020
21697 posts
Posted on 3/18/26 at 4:50 pm to
quote:

Because it is a world market and the oil we produce doesn't just stay here. Unless you want to remove the incentive for companies to find and extract oil to control the price, which will result in an immediate halt to all production.


I understand the dynamics. However, worldwide, medical prescriptions are a market yet so cheap in many countries. Why can't oil and gas in the USA play that same game?
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