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Originally Posted by Two Bills
Sounds good, but will US oil companies undercut the world price?
They historically have never shown any other inclination than raking in the profits high prices bring.
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Prices were quite low from 2017 to 2020, so I would say yes. We had OPEC in a stranglehold. Every time they tried to raise prices, our producers would undercut them.
Great position to be in. Master of your own fate. Here's a WSJ article from 2020 with more details. You can view for free with your library card and the Sumter County Library website log-in. And no, I don't mean this to be political. Just an illustration of how it can be done.
Russia Takes Aim at U.S. Shale Oil Producers - WSJ