permafrost Loc: Minnesota

We are independant of ME oil. trump said so..

Then why do we see gas rise and fall in price when thing go wrong on the other side of this world?

Just one explanation.

From Quora...


Ever seen a sign saying “Made in USA” in a gallon of gasoline?

Yeah, me either.

Petroleum is a commodity product - no matter where it comes from, it all burns the same, at least outside of that prior point about what sort of impurities are in it.

Twenty percent of the world's oil moves through the Strait of Hormuz. Twenty percent. Now, let’s imagine some cataclysm - maybe a bizarre earthquake - blocks the Strait and makes it impassible.

The US produces as many barrels as it consumes, so we are good, right? Well, no. A lot of that Middle East oil right now is going to China and Japan to run businesses and heat homes.

But oil is a commodity, so oil to China and Japan could come from anywhere. And if oil was running $80 a barrel before our thoughtquake, Chinese and Japanese interests are going to start bidding $90 a barrel, or $100, rather than freeze in the dark. American interests are going to sell them that oil at $90 or $100 a barrel too. Unless Americans likewise bid $90 or $100. Suddenly, we are still energy independent, but oil still costs 25% more than before the thoughtquake.

And everything currently made in China using petroleum products, or shipped from China on Diesel-powered ships, gets more expensive too.

Cue worldwide recession.

The United States “needs” Middle East oil - not necessarily for its own consumption, but because the US would like to keep the world economy running on American terms. That’s been true ever since the first oil embargo showed the US how easy it would be for OPEC to make our lives hell.

moldyoldy

Yeah, when Reagan sold wheat to Russia our bread prices went up and never came back down.

Wolf counselor Loc: Heart of Texas

Sorry goober, but you're like H****r B***n. All mouth and no experience.

JFlorio Loc: Seminole Florida

Oil is a commodity sold on the world market. Has been for decades. So supply and demand affects the price. So what?it is what it is. Oil gets too expensive you c*****e c****e whacko’s get what you want. But you’ll cry and whine instead because of the price.

Kevyn

He has a far clearer and more nuanced understanding of this and other topics than you will ever be able to obtain. And he clearly articulates his position with humor and humility, further he has never had to grovel to the administration on his knees begging to be allowed to post, evidently you are all mouth; a mouth with lots of experience. His contributions would be sorely missed if he chose to leave the forum, unlike you who I didn’t even realize was not posting until you returned and announced your expulsion. Mouthy clueless right wing gasbags are a dime a dozen around here and when they come and go or give up the ghost it makes no difference.

nwtk2007 Loc: Texas

So it's "if" something happens to stop the flow of ME oil. Well, if "ifs" and "buts" were candy and nuts, etc, etc.

What "if" the left opened their eyes and stopped acting stupid? Cue, united USA, stronger than ever!

moldyoldy

British petroleum will surely let us keep our oil at cheaper prices

JFlorio Loc: Seminole Florida

Might want to wash those lips. Probably getting frost bite by now.

Wolf counselor Loc: Heart of Texas

I'm glad you enjoyed his thread. It was meant for dupes and dummies.