Quote:
Originally Posted by Stu from NYC
Wish we would have continued to push for more drilling so we can make up the difference.
OPEC only cares about itself and maximizing their profits
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Unlike the US oil industry which is filled with executives who don't care about their profits and will happily use all the oil drilling permits they are sitting on unused because they won't drill until the profit is greater. And those US oil companies will certainly only sell their oil on the US market to US distributors. No plans whatsoever to sell US oil on the world market.
Think instead of reflexively spouting propaganda. The US is already producing enough oil to completely satisfy the US need. There is some mismatch in low sulfur vs higher sulfur oil. But there is a huge amount of oil already permitted to be drilled that is sitting in the ground in the US. It just will cost more to get it out, so the price will go up. Just like it will if OPEC drills less. The oil market is not a US vs not US world and our drilling companies are only interested in profit, just like OPEC is.