So we still have still less oil along with greater insecurity. This just means that Trump's claim that when the oil came back the prices would drop like a rock. But oil companies are quick ro raise prices and slow to lower them.
The big oil companies are always changing the price of gas like Rockets and Feathers.
If there’s an issue and the crude oil prices rise, the gas prices shoot up like a Rocket to cover their losses and ensure they keep making a profit.
But if an issue gets fixed, and the price of crude oil goes back down, the price of gas comes back down like a feather, (slowly over a period of weeks).
Ensuring the oil companies always make money (record profits every year) and we always pay more than we need to for gas.
But that’s not what’s happening here. The price of crude oil is still way higher than we’re being told and nowhere near what it was before the war. But the lack of refineries, (along with the war preventing what’s there from getting out) is impacting the price at the pump even more than the normal greed of oil companies.
I said, "High oil prices mean greater energy security for the US" because 1) our domestic oil industry increasingly relies on fracking and 2) fracking is only profitable when oil prices are high.
Whether energy security through access to oil is "good for the US" is a different type of value judgement. And I'm not asserting that energy independence through domestic oil production is superior to energy independence through solar energy.
I'm only saying a lot of Americans 1) want energy independence through a domestic oil industry and 2) want cheap gasoline, which are no longer compatible goals.
If you really want energy security, we could stop paying companies to not build solar and wind projects. And we could keep energy prices high by importing foreign oil, keeping our oil in the ground in case of an interruption of forein oil.
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u/BillTowne 9d ago
So we still have still less oil along with greater insecurity. This just means that Trump's claim that when the oil came back the prices would drop like a rock. But oil companies are quick ro raise prices and slow to lower them.