I have noticed a lot of people on social media making comments lately about various aspects of the oil industry, particularly as it relates to the North American market, that show a lack of understanding. The increase in prices at the pump and the ongoing issues with supplies coming out of the Persian Gulf region have elevated this topic. The economics of petroleum are a lot more complicated than they seem at surface level. While oil is a global market, there are a lot of factors at hand beyond just supply and demand. In particular, it is important to consider geography and refining. This video should put a lot of things into perspective. The USA is the largest producer in the world currently, but that wasn't always the case. Structural aspects at play before the shale boom of recent years are still part of the American dynamic. Infrastructure in this industry is not cheap and decisions made in one decade can have an impact decades down the line. https://youtu.be/HtAcAwgVSVc?si=eILCKDLDDouBuJge
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Lol
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When your boomer uncle first learns how to make slop.... There's a lot more than this he posted today. Some of the slop he posted 3 or 4 times in a short period of time. Smh
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