Energy independence: More domestic oil likely would limit volatility of energy costs for consumers
What would energy independence mean for gasoline prices, utility bills, plastics, groceries and other consumer expenses? How would domestic jobs and the potential for a stronger economy affect individuals throughout the country?
Crude oil priced at the storage hub in Cushing currently trades for much less than Brent crude priced in London, so the notion of producing enough oil to eschew imports seems like a potentially positive development for consumers.
But that may not necessarily be the case.
Oil will continue to be a globally traded commodity, even if the U.S. is getting its crude from Texas and North Dakota instead of Saudi Arabia...
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