I plead illiterate to the reality of oil economics. I have questions. Your explanations are welcome.
If we are producing more oil in the U.S.A. than ever in our history why, is Iran more in charge of the commodity than ever before? I don’t understand the scenario.
With Iran’s nuclear program going forward, are we restricting the oil exported to the United States by, Iran in an attempt to take that program hostage? Is it the other way around with Iran restricting its’ exporting of crude oil? Is it a combination of both?
My next question. Are we attempting to export the oil we produce in the United States? If yes, why?
Here’s where I’m thinking we keep it all here, and provide for our own, only exporting once we have stabilized supply, and demand here.
As I understand it, these sharp rises in price at the pump also have to do with the hoarders working their strategies so, once supply, and demand level off again, the price levels off but, higher than the previous median.
As you can tell, I’m a novice to the subject, and can only ask for more information.
Tags: Iran, Nuclear program of Iran, Oil, Oil Economics, Oil Economics Inquiry, Oil Exports, Oil Imports, oil prices surge, United States
