US oil prices rose to a three-and-a-half-year high on Thursday, bolstered by supply concerns due to US sanctions that could cause a large drop in crude exports from Iran.
US West Texas Intermediate (WTI) crude futures rose 84c to $73.61 a barrel, up 1.2%, by 3.52pm GMT. It reached $74.03 earlier in the session, its highest since November 26 2014. Brent crude futures rose 23c to $77.85 a barrel, up 0.3%.
Except, British Petroleum is exporting our Alaskan Oil which it receives at ZERO COST and selling it to China!
So if we want lower oil prices, STOP GIVING OUR OIL TO OTHER COUNTRIES !
Nope, can’t talk about that. nope. nope.
We import 1.73 million barrels per day from the middle east. But we expert 3.6 million barrels a day. We could EASILY cut out the middle east ENTIRELY simply by not exporting to Mexico, Canada, and China. So why did we spend 7 Trillion dollars on wars there? Why to protect Israel somehow of course!
The top five destination countries of U.S. petroleum exports in 2017, export volume, and share of total petroleum exports