SniperFire
Senior Member
Unless so-called conservatives are suggesting we nationalize US oil production, drilling more in the US will have a negligible effect on oil prices.
Are you just regurgitating what you have been told, or can you actually make an argument on the impact which adding new marginal suppliers have to commodity prices?
Speaking of regurgitating...The marginal suppliers will only add to the supply of they can extract and sell the oil below the cost of extraction. As the price of oil goes up, techniques that were unfeasible become feasible.
None of which changes the fact that we can't add oil to the US supply. We can only add oil to the world supply. it's a fungible good sold on a spot market. The short term difference between Brent and WTC is not a result of US production changes.
So you can make an argument on the impact of adding marginal supply, but you don't want to?