Putting aside the logistical problems, there is also the problem of basic economics. There is a global market for oil, so all oil that is drilled has a fair market value that is set by global supply and demand. If that value is, say $100 at a given time, then the oil producer is $100 wealthier as soon as he, or she, pulls a barrel out of the ground. Yes they could choose to sell it for less, and the refiner could then choose to sell gasoline they produce for less than the market rate. But they would be doing so out of the kindness of their hearts. This is really no different than oil well owners choosing to donate some portion of their profits directly to Texas drivers.crazy2medic wrote: ↑Tue Mar 08, 2022 6:02 pm Here is my question for those that may know!
Texas has most of the Refineries, Texas has the oil wells and gas wells, so why can't Texas refine our own petroleum, distribute it to Texas gas station and drive gas prices in Texas down?
It's really the same as the housing market. If you own a home, you are wealthier than you were a year ago because the value of your home has increased. You could choose to be nice and sell your house for what it would have sold for 5 years ago. Or you could sell it for the current market value and then donate that price difference directly to first time home buyers in your community. Guns and ammo would be another example of this.
This, or course, assumes a capitalist system with private ownership of oil wells, refineries, etc. If the state decided to mandate that Texas oil needs to stay in Texas and then also set the price for oil and gasoline, we could see a lower price at the pump. But this would be a socialist, or communist, system which is inherently less efficient than a capitalist system, so that would offset any potential price reductions somewhat.