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RE: High Petrol/Gas Prices Coming - Don't Blame Big Oil
I stopped reading when you wrote this.
In fact, you can stop reading now and go straight to the "upvote" button
Just kidding.
Now, don't you think that the international panorama will affect the price of gasoline in the United States? that is, the Venezuelan oil industry is collapsing and possible sanctions against Iran in the near future is in the air.
There is plenty of supply waiting to fill any gaps. OPEC has been trying to slow/cap production and the Russians have slowed some of their producers also in order to keep the price where it is. If there is an interruption, they will fill it to keep equilibrium. The goal for them is to keep the U.S. shale industry waiting for prices to hit $100 again. At that point the U.S. starts producing large amounts profitably and again we go back down to equilibrium. Iran has buyers that don't abide by sanctions anyways so they won't affect the market. Sorry. long answer. Thanks for a great question. I appreciate it.