The Question Everyone Is Asking—And Getting Wrong “Why don’t we just drill more and lower prices?” It sounds logical. America has vast oil reserves. Increase supply, prices fall—basic economics, right? Not quite. That line of thinking assumes oil is a local commodity controlled by national policy. It isn’t. Oil is one of the most globally integrated, tightly priced, and strategically sensitive markets on Earth. And that changes everything. Oil Is a Global Commodity—Not an American One Here’s the first reality most people miss: oil is fungible. A barrel of oil in Texas competes directly with a barrel from Saudi Arabia, Russia, or Nigeria. It doesn’t stay “American” once it’s pumped out of the ground—it enters a global marketplace where prices…
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