"The U.S. is the world's largest oil producer. You'll still pay more for gas."

[mahatmakanejeeves]

The U.S. is the world’s largest oil producer. You’ll still pay more for gas.

Here's the United States’ role in the global oil market, explained.

washingtonpost.com
The U.S. is the world’s largest oil producer. You’ll still pay more for gas.
The answer — like the global oil market — is complex.

Link to tweet

[Warpy]

1. Also natural gas and heating oil

Oil is in a world market no matter who produces it. We are going to get significant competition from Europe this year, and that's OK by me. I've already dug out my homespun, home knitted woolies because I know I'll need them. We're all going to be chilly this winter because of Putin's war.

So if any wingnut tries to dis Biden in my presence, he's going to get corrected very quickly. This is Putin's doing.

[Farmer-Rick]

2. Even if all the gas produced in the US were sold in the US

It would still cost more.

Only a handful of integrated oli and gas producers control the markets in the US like ExxonMobil. Yeah there are independent producers but they only do part of the production chain and have very little control over the market.

These integrated oil and gas corporations usually control production and prices. Capitalism will always make a monopoly's prices higher.