Thursday, July 7, 2016

Selling oil

A U.S. ban on the export of oil was lifted last winter after decades of restriction. Some customers purchasing the oil in May included Japan, Italy, Israel, the Netherlands and Canada (which was never subject to the former ban).

When a supplier and a buyer are not coerced [def link],  both sides consider the transaction a benefit - or it doesn't happen. That means that each of these customers and each oil company are getting something they want at a price they can accept.

Benefits will also go to  . . us, the people of America. Estimated benefits are:

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