Comment Re:Bah! (Score 1) 720
That's not true in the world we're in today; significantly more paper barrels are traded than what comes out of the ground. If it was reported that oil would run out, people would start massively buying tons and tons of paper barrels and inflate the price to $10 a gallon or higher.
Also, to clarify something while you are right that people sell oil to the US at certain rates; there's not so much direct trade as it is you buy and sell on the international market. Exxon doesn't make their money by importing foreign oil to sell to the US, they make it by drilling oil and selling it on the international market, of which the US is a customer.