Gawain, now I understand why you are having trouble with all this. If we shut down our refineries we will not be using nearly as much oil and gasoline because we would only be able to import some fraction. Locally, at home our prices would be astronomical. World prices would tumble because there would be global oversupply. We wouldn't benefit from it.Originally Posted by Gawain of Orkeny
That would persist for some time until global demand caught up or we adjusted to importing gasoline (infrastructure changes for transport, etc.) It would persist longer since it would likely cause global recession. But the excess would be soaked up by the world eventually (on the scale of years) as demand grew.
You share a problem common to many other Americans: the inability to separate gasoline from oil in their minds. Yes, they are related, but they are not the same thing. The second prooblem you share with many others is that you cannot tell the difference between regional and global impacts/markets/driving forces.
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