Quote:
Originally Posted by DGthe3
I was referring to the supply and demand effect on price. If the US imports more, there is less for everyone else. Therefore, everyone's price goes up.
Most countries who export oil also import it. Its a really screwy system. About the only way to control your own oil would be to have a nationalized system. Otherwise, you pretty much need to play according to the strange rules of the global market.
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Not necessarily but most likely. The government/BP can choose to eat the price difference to save some PR face.