3 ms·
> Less oil being pumped globally would be beneficial to American oil companies. In the short term, yes. There is a point when you ruin the whole industry. Right
by megaman821 4y ago
> Less oil being pumped globally would be beneficial to American oil companies.
In the short term, yes. There is a point when you ruin the whole industry. Right now $4/gallon gas has no good alternatives, but at $15/gallon things like e-fuels and biofuels start competing quite nicely.
- Godel_unicode 4y agoThis is misunderstanding how the market works. If gas prices got that high, yes other fuels would come into the picture but they wouldn’t replace cheaper-to-produce American crude because of margins. The thing about those prices that would be a concern would be pushing people towards not using fuel altogether, not the existence of more expensive biofuels.