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OPEC produces 33 million barrels of oil a day. You know how big an oil barrel is. I'm not sure how much American companies would have to buy and store to sign
by whip_lash 11y ago
OPEC produces 33 million barrels of oil a day. You know how big an oil barrel is. I'm not sure how much American companies would have to buy and store to significantly affect the price, but lakes full, at vast storage costs.
According to your article Dow bought "hundreds of thousands of pounds" of bromine and based on a quick Google search a pound of bromine is about the size of a pill bottle. So one warehouse full.
- andyakb 11y agoI dont think OP is suggesting buying their oil to somehow impact the price, and is instead saying that the cost US oil companies are paying to extract oil themselves is more than it would cost them to just buy it from Saudi companies