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You're right. The price going down has, I think, more to do with the effect of fracking in the US. It's getting to the point that the US could be an exporter if
by moomin 10y ago
You're right. The price going down has, I think, more to do with the effect of fracking in the US. It's getting to the point that the US could be an exporter if it changed its laws.
The effect of petro-states will be much the same, though.
- ARothfusz 10y agoWe are an oil exporter. We did change the laws. http://money.cnn.com/2016/06/06/investing/us-oil-exports-increase/ http://money.cnn.com/2016/06/06/investing/us-oil-exports-inc...
- moomin 10y agoI missed that. Thanks for the correction.
- deleted 10y ago[deleted]
- pragone 10y agoThe US, like everyone else in the world, will always be an oil exporter and an oil importer. The grades of oil differ throughout the world, and are used in different industries.
- Spooky23 10y agoMore to do with the Saudis pumping more.
- maxerickson 10y agoIt lacks 2015 and 2016, but the huge ramp up in US production (which fracking has contributed to) has clearly been a big factor: http://www.eia.gov/beta/international/index.cfm?view=production http://www.eia.gov/beta/international/index.cfm?view=product...