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Originally Posted by American  Increasing oil production and refining capacity domestically should reduce the price of refined products. Well then, if Big Oil is so big, how come they don't drill wherethehellever they want? |
Possibly. It depends on the product and if it's widely traded on global commodity exchanges. Probably niche products that have small demand could be reduced, especially if shipping was really expensive. But products like diesel and gasoline along with jet fuel probably won't change a bit, especially since any added production in the US would be minuscule. If a mom and pop store adds 500 heads of lettuce to their local grocery, they can't expect to reduce prices globally, especially when firms like Costco, Walmart, Tesco and Carrefour are the dominant players.
And Big oil doesn't drill everywhere. Why? CvB.