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Over 50% of the oil in America is domestic. A smaller percentage comes from the Middle East.
Question?
Do we know who the biggest supplier of domestic oil is to the USA?
Answer, Canada believe it or not.
Correct about speculation. The big oil companies use the excuse of what happens in the Middle East to raise our prices here.
That is a game with the stock markets.
We have a vast emergency oil reserve in the US for emergency purposes. The Obama Administration wants to tap into that now.
In my opinion, that might not be a wise idea, unless we start drilling again to replenish the reserve.