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No, it's about what the US exports - because the US produces more oil than it needs domestically. We will always be at the 'whim of OPEC' as long as we are in a
by whimsicalism 3y ago
No, it's about what the US exports - because the US produces more oil than it needs domestically. We will always be at the 'whim of OPEC' as long as we are in a market-based system because OPECs actions impact global oil supplies.
- FrustratedMonky 3y ago'market-based' is the key here. Without competition there is no market. In the 70's when the US was NOT producing enough. Then OPEC had a 'monopoly' or at least an outsized influence. A large enough % of the market that they could dominate the price. Right now we are NOT at the 'whim' because we can produce more if we need it. IF we stopped, then we would return to being at their 'whim'. Solar, Wind, anything, is all very important for National Security. See Germany.