Quote:
Originally Posted by Tex
The world oil market cares about supply. We become capable of putting a few billion more barrels a year on the market, and it will indeed have an impact. Prices would also be cheaper to Americans because domestic oil would be cheaper than foreign.
Moreover, were we to export more than the measly 300M barrels/year we currently do, we would command a much greater presence in determining how the world market functions. Yes, the Chinese, the Europeans, or whoever would still buy from the Middle East. But they also might buy from us.
As I said in my linked post, I'm not opposed to alternative fuel research. I am opposed to artificially handcuffing our own energy resources as a means of "forcing" that research. Oil is going to be with us yet for a very long time, barring some new miracle resource, and we might as well press our advantage.
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Sure, dropping in more supply will affect the price. But it will not make any difference in the geo political game. It may not even affect the price that much as OPEC can still play games to drive it back up. It's debateable at best.