Prices are beginning to come down some, to be sure, but are still pretty high don't you agree?
This article explores the question:
Say, what? The US is producing more crude oil? With a Democrat in office? How can that be, when the Republicans were going to drill, baby drill????
And yet, gas still costs nearly four bucks a gallon.
Aha, so this is an international issue, isn't it?
and it seems the US is a net exporter of gasoline, diesel and jet fuel. Surprised? I was.
According to the article, there are five factors that affect prices:
So, based on that information, just what should the energy policy of the US be?
This article explores the question:
The question is all the more perplexing, because the United States is not only producing more crude oil but also using less of it. As a result, net oil imports have dropped a third since 2005.
Say, what? The US is producing more crude oil? With a Democrat in office? How can that be, when the Republicans were going to drill, baby drill????
And yet, gas still costs nearly four bucks a gallon.
U.S. gas prices are largely determined by global crude oil prices, which depend on a widening and shifting array of factors half a world away: economic sanctions on Iran; deepwater drilling off Brazil; spare oil capacity in Saudi Arabia; auto use in China; less nuclear power in Japan.
Aha, so this is an international issue, isn't it?
and it seems the US is a net exporter of gasoline, diesel and jet fuel. Surprised? I was.
Federal laws do not generally allow crude oil that's produced in the U.S. to be exported but permit the export of refined products that come from it — such as gasoline, diesel and jet fuel. Last year, for the first time since 1949, the U.S. became a net exporter of these products. Most gasoline exports go from Gulf Coast refineries to Latin America, where demand is booming.
According to the article, there are five factors that affect prices:
1. Global crude oil price increases.
2. Iran and other geopolitical uncertainties.
3. Limited spare capacity.
4. Rising worldwide demand.
5. Refinery closures/production costs.
So, based on that information, just what should the energy policy of the US be?