East Central South Dakota | It is unfair to regionalize and isolate world demand for crude oil----the source for supply is irrelevant to total world demand picture. If the European Union, China, Japan and all the other countries that use the Middle East as supply, could no longer source that crude from the Middle East-----they would be in our supply markets ( Canada, Mexico ) in a heart beat. This would drive up our cost of crude oil over night. What did Canada do when the Keystone pipeline was threatened ? ? They threatened to build a pipe line to the west coast and export it to China.
Our sourcing crude oil from Canada and Mexico makes sense do to geographic location which affects transportation costs. Just like SA corn finding its way into East Coast deliveries. Just like China switching beans to US when SA runs out and vice a versa. What would happen to the price of beans if South America quit raising beans ? ? ? The same thing that would happen to crude oil without Middle East Supplies............. Would be awful nice to raise at least 15% of our supply at home with the social benefits of clean air, clean water, renewable and job creation..... |
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