Quote:
Originally Posted by burn_this_city
Oil is traded on the world market, what you're proposing is energy socialism. If someone can produce oil at $3 a barrel, and it costs us $25-30, why should the guy who can make money at $10 lose to the people who need 3x that number? The industry was decimated by greed, assuming the price would stay high forever, and that they (US Shale) could continually add a million barrels a day every year when world demand grows by barely more than that.
|
Its traded on the work market in US dollars.