Texas succession will affect oil prices...
⛽ NO OIL JOE ⛽
I'm not saying I'm for it, or against it. You do you Texas, but...
Texas is the leading producer of oil and natural gas, accounting for 40 percent of U.S. oil production and 25 percent of the nation's natural gas production. The Permian Basin, the largest oil producing region, recently surpassed Saudi Arabia's Ghawar as world's top producing oilfield.Jul 13, 2019
Texas also refines a healthy portion of oil, like a lot of it that we all use.
If Texas want to get our attention, this will be the number one story on every newspaper in the World.
Texas has more refining capability then all of Canada. 33% more if I did my math right. Keep in mind these lines, wells, and refineries are privately owned. Luckily I don't see Texas interfering. There would be a lot of change by going from operating in the US to a free Texas overnight but I'm sure Texas will make it worth their while. The main bit keeping the oil companies from siding with Hiden is due to the fact that their import and production is centered in Texas. The rest of the lines they operate running throughout the US doesn't mean much if you don't have the source. Kinda like owning the plumbing but not the water main.
Even if the feds try to bribe the oil companies back they can't just get the infrastructure over night. To negate Texas they'd have to get investments to expand the docks and lines in Louisiana, or build new pipelines going to the gulf somewhere else and they'd still have to import more foreign oil if they refused to buy it from Texas. We are talking like 10+ years to even have a hope in hell of kicking off enough infrastructure to rival Texas and Biden can't kick that off because hes pledged to move away from fossil fuels. Spending trillions to build new pipelines, refineries, and wells to make up for Texas would make him a bigger laughing stock and incompetent than he already is.
Not to mention if Oklahoma and Louisiana both left with Texas... I can't even imagine. Talk about a death grip on the oil industry.
Throw in Alaska, and...shit, let's do it!