It only takes one minute to show a liberal on why the end to U.S. oil export ban would be good for their family and the country. US gasoline prices are tied to the global gasoline markets, which in turn are tied to the global oil markets, but not WTI prices. So once oil exports are allowed, WTI would go up, and gasoline prices would not only not go up, but they might go down. Because more crude oil on the global market would lower global crude price, which would bring gasoline prices down.
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Not Lifting the export ban will make things worse than it is now. US crude was allowed to be trained to Atlantic Candad to be refined. The refinery does refine light oil, which is perfect for shale. But the Canadian refinery is about to retool for Canadian Heavy oil. The inventory of light crude in America is gonna sit while the US refines Saudi's heavy oil.
Politicians are idiots for not lifting the export ban.
It's like having a car plant that makes Ford Fiesta's and saying they are not allowed to sell the car across the borders while Americans are buying Mexicos Made Dodge Ram 2500.
I said it. It is cheaper to refine overseas.
No one here said exporting US Crude will result in lower prices at the pump.
Exporting US oil will make gasoline cheaper. I can't see how getting Brent price for WTI will cause any major paradigm shift in drilling.
Obama will most surely block it.
I never knew lack of understanding markets was so widespread. The point of lifting the ban is to get the international price for WTI. (Western Texas Intrnediate). since the shale boom, WTI has been sold to American Refiners at $4 to $10 less than what an American Oil producer would have gotten, had the producer had access to worldwide customers.
Someone here thinks they are clever when they mention that US is a net importer. By allowing American oil producers to get more money for there oil in world markets, means the U.S. will drill more. And would have than likely been a net exporter by now had the U.S. crude been allowed to be exported all along.
Someone here also thinks they are smart by mentioning that the Middle East can sell their oil for so much less. It is true that the cost to produce a barrel of oil is cheaper in the Middle East. That however is irrelevant. Producers try and get the highest price for their oil.
Another issue people need to understand is that America is pumping out light oil from the ground, but most of the U.S's refineries are designed to refine Heavy oil from Canada, Saudi Arabia and Venezuela. So much of the crude Shale oil can not be refined in the US and sit in inventory.
There is a great over supply of oil. So the more oil you drill the more the prices will stay low. You are digging your own grave
Who and what country would you export oil too? Could they afford to buy it when middle east oil is so much cheaper? Exporting sounds great but sucks when no one will buy what you can export! Don't be dumb!!!
Like Waylon said.
It don't matter who plays in Austin... Bob Wills is still the King.
The old timers like remember what OPEC did in the 80s.$10.00 a bbl oil. You can not out drill or out pump OPEC.
USA does not need to export since they are still a net importer of oil. By the USA increasing production and decreasing amount imported, thus increases the amount in the world market. Once USA produces more than uses, then they should export.
Eating more curry would also increase gas production and output.
I think you know what you're talking about.
Lifting the export embargo would reduce the differential between WTI between Brent. The increase in WTI prices would encourage more drilling in the US, but increase prices at US pump in the short term.
There is no market sense to stop the WTI from being marketed internationally. Exporting WTI would also increase production in Canada's tar sands. And Obama can't been seen as improving the economic viablity of Canadian oil.
I do not think you know what you are talking about.