iRONic
Diamond Member
- Jan 28, 2006
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Reverse tariffs on these products will sting.Gas prices will start to fall when OPEC starts producing more in December, which they announced last month. That would add to the above because the oil from shale oil fields is more expensive to produce, so expect US producers to pull back on that production, not increase it. But will gas go to $1.50 a gallon, no not ever again unless they manage to trigger a depression level economic crisis.
“Petroleum imports from Canada have increased significantly since the 1990s, and Canada is now the largest single source of U.S. total petroleum and crude oil imports. In 2022, Canada was the source of 52% of U.S. gross total petroleum imports and 60% of gross crude oil imports.”
Oil imports and exports - U.S. Energy Information Administration (EIA)
U.S. crude oil imports sources including OPEC and Persian Gulf, and top five source countries of U.S. oil imports and destinations of U.S. crude oil exports.

