Is there much heavy crude coming out of the strait? I always thought gulf oil was pretty light and the heavy shit mostly came from Venezuela and Canada who would be uneffected by the strait being close.
It is, and most of it goes to Asia, but since oil demand is just barely met all over the world a supply shortage anywhere is felt everywhere through rippling demand. But I was just explaining why a closed-door domestic oil policy wouldn’t work in the USA despite our net export. Under any foreseeable global demand regime.
Is there much heavy crude coming out of the strait? I always thought gulf oil was pretty light and the heavy shit mostly came from Venezuela and Canada who would be uneffected by the strait being close.
It is, and most of it goes to Asia, but since oil demand is just barely met all over the world a supply shortage anywhere is felt everywhere through rippling demand. But I was just explaining why a closed-door domestic oil policy wouldn’t work in the USA despite our net export. Under any foreseeable global demand regime.