2 ms·
From my perspective at least, I lump in US oil producers as part of OPEC and less as part of the US. Due to the transportability of oil and the existence of a
by somethoughts 3y ago
From my perspective at least, I lump in US oil producers as part of OPEC and less as part of the US.
Due to the transportability of oil and the existence of a spot oil market, in times of high global/US oil demand, the US oil producers will sell out to the highest bidder and export our oil and basically take the profits at the expense of US energy users. [1]
Oil/LNG prices are a global market whereas solar+battery is a regional market unless grids are set up.
[1] https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php https://www.eia.gov/energyexplained/oil-and-petroleum-produc...