kyzr
Diamond Member
I agree with that. US importing oil from our neighbors isn't affected by Hormuz, except for that temporary price bump.Oil is a global commodity. Everything affects us genius. Our refineries use foreign oil. Mostly from Canada. 60% of the oil our refineries import is from Canada. 70% including Mexico. Then another 10% from the Saudis. US oil is blended with foreign oil about 60/40. Therefore if the strait is closed the bidding for Canadian and US oil will go up and our prices will go up. You're welcome.
Biden canceling the KeystoneXL pipeline had more of an impact on Canada than the US.
I gassed up yesterday and the price dropped, I hope it keeps dropping, I believe the stock markets know that our blockade of Iran is much more devastating than their closure of Hormuz. You're welcome.