4. Gas Prices
Hmmm....... Even hear of Adam Smith? Supply and Demand? It is called a Free Market. And, at present, our largest single export is refined petroleum products, ie, gasoline and diesel. In other words, we are competing in a world market for a product that is in great demand. We either pay the present prices, or the companies sell the gas overseas to those that will pay the prices.
Yes__ and Obama has quelled supply.
OK, let's go over this real slow. We are exporting both gas and diesel by the tanker load. To the point that it has become our biggest export. Then you state the supply is less?
Federal report: U.S. oil imports down, domestic production highest since 2003 - Los Angeles Times
According to the study, the United States reduced net imports of crude oil last year by 10%, or 1 million barrels a day. The U.S. now imports 45% of its petroleum, down from 57% in 2008, and is on track to meet Obama’s long-term goal, the administration maintains.
Imports have fallen, in part, because the United States has increased domestic oil and gas production in recent years.
U.S. crude oil production increased by an estimated 120,000 barrels a day last year over 2010, the report says. Current production, about 5.6 million barrels a day, is the highest since 2003.
The U.S. has been the world’s largest producer of natural gas since 2009, the report says. Use of renewable sources of energy, such as wind and solar, is still relatively small but has doubled since 2008.
The report credits administration policies for the improvements. It cites initiatives such as the higher fuel efficiency of passenger cars, the jump in renewable energy output, and improved weatherization of 1 million homes.
Ever hear of doing a little research before flapping yap?