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Texas

PJMcK

(24,273 posts)

4. Thanks, that's interesting

Reply to TexasTowelie (Reply #3)

Tue Mar 10, 2020, 08:42 AM

Mar 2020

Is there a balancing point of gas prices? Or should we only use domestic oil? Is there an economic formula or ratio of foreign and domestic oil?

When gas prices approached $4 a gallon, there were all kinds of negative economic results. As I wrote, I'm over-simplifying the issue.

Thanks for your response, TT.

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How will collapsing oil prices affect Texas? It depends on these two factors, experts say. [View all] TexasTowelie Mar 2020 OP

I think some Texas producers of oil will be forced out of business if the prices remain low long, duforsure Mar 2020 #1

Could someone please explain this to me? PJMcK Mar 2020 #2

It means that instead of using domestic oil TexasTowelie Mar 2020 #3

Thanks, that's interesting PJMcK Mar 2020 #4

Oil needs to be around $60 a barrel in order for the oil industry TexasTowelie Mar 2020 #5