GAS: Economics dictate price

A word on gas.

The idea that producing our own oil will reduce gas prices is wrong in several aspects.

Oil is traded on the commodities market 24/7. So is gasoline. The U.S. can produce a lot of oil, but it will not become cheaper. Why? Because on the open market, if a producer here wants to sell his oil cheaper, someone else will buy it and put it out for sale on the spot market and get the prevailing price, even a dollar more..

And, BTW, it has nothing to do with who is president. Prices are set in the oil market according to supply and demand, as always.

Louisiana sued the feds to force Biden to open 80 million acres in the gulf for drilling, which he did, only to have a federal judge shut it down. This was when oil was $72 and there was no war.

Also, the idea the XL pipeline (8% completed) would solve this is clearly wrong. Even if it was built, a single oil pipeline would not solve this problem, and many others exist (31 of them from Canada).

We import Russian oil because it is heavy sour crude (high sulphur) and some American refineries are built to process that. Another reason is that West Coast refineries have NO crude pipeline connecting them to the Permian Basin, or anywhere else, and oil from Alaska is insufficient to supply all West Coast refineries. Oil is an exceedingly complex industry, and there are no simple solutions.

DAN STRAYER

Bonners Ferry