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It doesn't matter how much physically comes from there to here, it matters how much their production brings down the price of the global commodity.
by gameswithgo 7y ago
It doesn't matter how much physically comes from there to here, it matters how much their production brings down the price of the global commodity.
- Robotbeat 7y agoWell, that's the key point about becoming a net exporter of oil, isn't it? If the global price of oil shoots up, the extra cost to consumers is easily offset by the increased revenue for domestic oil production. If that's not good enough for you, there's also the option of protectionist measures to keep the price of oil for consumers nearer what it was originally (which is less economically efficient but is no worse than where you were at first). That's the main argument for being "energy independent."