Why talk about exporting crude oil when gasoline prices continue to rise, despite record domestic crude oil production and declining gasoline consumption? This question is being asked all over the United States, and the typical answer given is crude oil is not priced regionally, but on a global level.
Sure, global pricing is currently buoying the price of domestically produced crude, but that's only part of the story. Europe's thirst for diesel and the unrestricted exports of refined products are allowing 400,000 barrels of gasoline to be shipped from the United States every day. For a detailed look into gasoline prices, click on the following video.
