If gas prices are high because oil companies trade finished gasoline and diesel on the world market - meaning?
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that no matter how much oil we drill here in the US if someone in another market is willing to pay more than US consumers we have to match the going price or go without gas, and right now US production has increased so much that the US has become a net exporter of gasoline and diesel fuel (that's a verifiable fact which even the oil companies admit and the rate of export is approximately 1.2 Million barrels per day), and oil companies find it profitable to import raw oil into the US, refine it here then sell it on foreign markets, then doesn't that prove: 1. Opening up our National Parks and Protected Wildlife areas to oil drilling won't actually do anything to bring down the price. 2. Because we're paying world oil market prices Obama really isn't responsible for high gas prices - international energy market speculators are. and 3. Refinery capacity in the US is just fine (it has to be otherwise how could oil refiners manage to eke out enough extra capacity to export 1.2 Million barrels per day of oil) and environmental regulations really aren't an "impossible burden" on business, otherwise the cost of permitting new construction on all those oil refineries would make it unprofitable for oil refiners in the US to refine an additional 1.2 Million barrels of oil per day above what's needed to satisfy the US market?
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Answer:
Fact:The drill baby drill crowd just wants to cash in on increased world wide demand in order to make a fast buck.
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Other answers
Its a commodity like anything else "that which is consumed by the consumer"
no one here gets out alive
We don't trade finished gasoline and diesel on the world market. Think real hard, and then try to find me a supertanker carrying tens of thousands of unleaded gasoline across an ocean. We trade in crude oil. Heck even in the United States you can't take unleaded from Montana and sell it in California, because different states have different standards. Something a President COULD do to help the prices is push to get all the states on a common refining standard.
Maxwell
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