Asking the wrong agency

Why is it up to the government to regulate availability OR PRICE of any retail product? Answer: it’s not!! If you’ve got a problem talk to the baby formula or gasoline companies. In a capitalist country like America that’s how it works.

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KrakM · 22-25, M

The government can influence oil prices because they in reality control the supply of oil

littledidi · F

@KrakM in the USA, the government certainly does not control the supply of oil (with the exception of releasing strategic reserves).

KrakM · 22-25, M

@littledidi they controlnthe contracts of when where and how much oil can be extracted

littledidi · F

@KrakM you’re talking about crude at the well, which is not the “oil supply” for the retail market. Actually most of it gets exported

littledidi · F

@KrakM but it’s a corporate decision how much crude to export, and since the 1975 export ban was lifted in 2016 they’ve been exporting the majority of the crude yield.