[Montana Man]

[QUOTE=kowbra;1246150]Of course regional taxation affects the final consumer price. So a place like CA will always be higher than another region with lower taxation. But, the recent price spikes are not due to California suddenly changing their policies; it is, as stated earlier, largely due to fear in the marketplace.

And, BTW, the US has never been a net exporter of oil. It reached parity, briefly, in 2018 due to the massive increase in shale production. However, much of that shale production was not sustainable and has been pulled back due to the unprofitable nature of those fields. It is not at all correct to say that the current price hikes are primarily caused by changes in US domestic oil production. Again, it may be a popular notion but it is not based on the reality of the energy markets.

Trading futures does affect oil costs. When we are dependent upon foreign sources and the instability of those sources, of course we pay additionally for the uncertainly of the supply. Then consider Russia supplys aprox. 8% of the oil supply. Take that away from the market and that makes what's left more valuable. Unless of course we produced more than we do now. This discussion cannot be had without involving politics and political agendas which I will avoid.