Dr0110111001101111 t1_j0lz1m4 wrote
Reply to comment by Garstnepor in US buying 3M barrels of oil to start replenishing reserves by B1gMay0
Gasoline prices are largely determined by the price of crude oil. Crude oil is traded on an international market. It doesn’t matter where the crude goes. As long as it’s introduced to the market, it brings down the price. So it makes sense for the United States to simply sell it to the highest bidder, which is exactly what they did.
Keeping the oil “for ourselves” doesn’t mean anything unless we nationalize the entire American oil industry. I’m actually all for that, but I suspect you are not.
Viewing a single comment thread. View all comments