Quote:
Originally Posted by DaneMcCloud
Would Iran's oil even make much of a difference to America citizens because of the refinery issue you've cited?
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It would. Stop thinking of gas prices as a local thing, and start thinking of it as a global thing.
The worldwide oil market is probably the largest, most complex market of any commodity or item in the world. But it is WORLDWIDE, and highly integrated.
We're pretty much at the point now where supertankers heading for, say, London, get re-routed to New York mid-trip because a computer somewhere says so. That's an oversimplification to some degree, but the market is highly integrated.