On Mon, 2 Jan 2012 16:55:36 -0600, "HeyBub" wrote:

Bob F wrote:
HeyBub wrote:
And exporting the refined product is a plus. Look how well-off Saudi
Arabia is.

So much for the fantasy of lower prices in the US.

Oil, and oil products, are fungible.

Producing more lowers the price world-wide and that simultaneously lowers
the price here. That's true for gasoline or any product made from oil.

The demand curve isn't close to being 1:1, either. Increasing the oil in the
market 10% will lower the price much more than 10%.