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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Dennis Roth who wrote (181333)11/14/2013 7:18:03 AM
From: Ed Ajootian  Read Replies (1) of 206159
 
Dennis, using the logic in your first paragraph would only serve to further buttress the cause for exporting crude oil. Having excess refining capacity for "emergency situations" obviously only helps if one has access to crude oil. If we are importing oil from a lot of countries who's average citizen hates our guts, it would seem reasonably likely that one of these "emergency situations" that comes up might have something to do with developments in one or more of these countries. With that it mind it then it behooves us to keep our domestic oil production higher than it otherwise would be if we restricted it to only supplying domestic refineries. The way to do that would be to allow for oil to be exported, thus maximizing the price that all oil producers can receive, even those that are far away from most of our existing refineries such as in the Bakken.
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