Post #10321 by mungofitch on the Berkshire Hathaway board

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤

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This is spot on. The world is awash in oil supply and the US is producing, I believe, more than any country ever has at any time. Regular Unleaded in my town is $2.69 a gallon.

I think the operative word is "world". The US, though large as both extractor and consumer of oil products, is still just one (large) cog in a gigantic machine. Other than local fuel taxes, I think it's fair to say most of the drivers of oil and pump prices in the US originate outside the US.

Jim

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