--- title: "Meaning & Key Takeaway of: First off, the crude oil market, unlike…" description: "\"First off, the crude oil market, unlike every other commodity in America, is virtually unregulated.\" — Peter DeFazio" image: "https://sms4smile.com/quotes/i/6e8/peter-defazio-23397_america_first-off-the-crude-oil-market-unlike-ev_732513.jpg" --- # First off, the crude oil market, unlike every other… ![“First off, the crude oil market, unlike every other commodity in America, is virtually unregulated.” quote by Peter DeFazio](https://sms4smile.com/quotes/i/6e8/peter-defazio-23397_america_first-off-the-crude-oil-market-unlike-ev_732513.jpg) [Download](https://sms4smile.com/quotes/i/6e8/peter-defazio-23397_america_first-off-the-crude-oil-market-unlike-ev_732513.jpg) [Open image](https://sms4smile.com/quotes/i/6e8/peter-defazio-23397_america_first-off-the-crude-oil-market-unlike-ev_732513.jpg) > “First off, the crude oil market, unlike every other commodity in America, is virtually unregulated.” [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The U.S. crude oil market operates with minimal regulatory oversight compared to other American commodities. **In simple terms:** Crude oil is barely regulated in the US. Key Takeaway Advocate for stronger oversight. Themes regulation energy markets policy transparency Mood critical analytical Type policy economic When to use this quote - energy policy debates - investment decisions - environmental assessments Key Concepts market dynamics government oversight consumer protection Questions to Reflect On - How does lack of regulation affect prices? - What are the risks of increased oversight? A Different Perspective Regulation may stifle market flexibility and innovation. ★ ★ ★ ★ ★ No ratings yet [America](https://sms4smile.com/quotes/about/america/) [Climate](https://sms4smile.com/quotes/about/climate/) [Crude oil](https://sms4smile.com/quotes/about/crude-oil/) [Investing](https://sms4smile.com/quotes/about/investing/) [Market](https://sms4smile.com/quotes/about/market/) ## Related quotes > [The crude oil market, unlike every other commodity in America, is virtually unregulated.](https://sms4smile.com/quotes/peter-defazio/the-crude-oil-market-unlike-every-other-commodity-in-america-is/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [We access virtually every producing basin, whether for natural gas or crude oil, in the U.S. and Canada.](https://sms4smile.com/quotes/richard-kinder/we-access-virtually-every-producing-basin-whether-for-natural-gas-or/) [Richard Kinder](https://sms4smile.com/quotes/author/richard-kinder/) > [About 75 percent of the crude oil marketed here is sold off the books, and they are doing trades that would be illegal if…](https://sms4smile.com/quotes/peter-defazio/about-75-percent-of-the-crude-oil-marketed-here-is-sold-off-the-books/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [In crude oil trading, we have seen a 46 percent increase over 1 year in the margins there.](https://sms4smile.com/quotes/peter-defazio/in-crude-oil-trading-we-have-seen-a-46-percent-increase-over-1-year/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [The oil market is especially sensitive even to a hint of expansion or contraction in supply.](https://sms4smile.com/quotes/james-surowiecki/the-oil-market-is-especially-sensitive-even-to-a-hint-of-expansion-or/) [James Surowiecki](https://sms4smile.com/quotes/author/james-surowiecki/) > [You can imagine these radicals getting a hold of a country where they're able to pull oil off the market to run the price…](https://sms4smile.com/quotes/george-w-bush/you-can-imagine-these-radicals-getting-a-hold-of-a-country-where-they/) [George W. Bush](https://sms4smile.com/quotes/author/george-w-bush/) > [The other are the strategic, so-called strategic stocks that the United States and the other Western industrial countries have, which could put in as…](https://sms4smile.com/quotes/daniel-yergin/the-other-are-the-strategic-so-called-strategic-stocks-that-the/) [Daniel Yergin](https://sms4smile.com/quotes/author/daniel-yergin/) > [I don't think for a minute we went to Iraq for oil. It just so happened that it had oil. But I think we'll…](https://sms4smile.com/quotes/t-boone-pickens/i-don-t-think-for-a-minute-we-went-to-iraq-for-oil-it-just-so/) [T. Boone Pickens](https://sms4smile.com/quotes/author/t-boone-pickens/) > [In the U.S. I think there are really two reasons we should pursue energy policy. One is climate change, and the second is this…](https://sms4smile.com/quotes/brad-carson/in-the-u-s-i-think-there-are-really-two-reasons-we-should-pursue/) [Brad Carson](https://sms4smile.com/quotes/author/brad-carson/) > [Thievery is what unregulated capitalism is all about.](https://sms4smile.com/quotes/robert-sherrill/thievery-is-what-unregulated-capitalism-is-all-about/) Robert Sherrill > [We established a regime that left creativity unregulated. Now it was unregulated because copyright law only covered "printing." Copyright law did not control derivative…](https://sms4smile.com/quotes/lawrence-lessig/we-established-a-regime-that-left-creativity-unregulated-now-it-was/) [Lawrence Lessig](https://sms4smile.com/quotes/author/lawrence-lessig/) > [I've never been antiregulation. I've always believed that raw, unregulated capitalism doesn't work.](https://sms4smile.com/quotes/henry-paulson/i-ve-never-been-antiregulation-i-ve-always-believed-that-raw/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [Force, unregulated or ill-regulated, is not only wasted in the void, like that of gunpowder burned in the open air, and steam unconfined by…](https://sms4smile.com/quotes/albert-pike/force-unregulated-or-ill-regulated-is-not-only-wasted-in-the-void/) [Albert Pike](https://sms4smile.com/quotes/author/albert-pike/) > [Bitcoin is not “unregulated”. It is regulated by algorithm instead of being regulated by government bureaucracies. Un-corrupted.](https://sms4smile.com/quotes/andreas-antonopoulos/bitcoin-is-not-unregulated-it-is-regulated-by-algorithm-instead-of/) [Andreas Antonopoulos](https://sms4smile.com/quotes/author/andreas-antonopoulos/) > [We have a completely unregulated digital landscape. There is almost no oversight. We are placing blind trust in companies like Facebook to do the…](https://sms4smile.com/quotes/christopher-wylie/we-have-a-completely-unregulated-digital-landscape-there-is-almost-no/) [Christopher Wylie](https://sms4smile.com/quotes/author/christopher-wylie/) ## More by Peter DeFazio > [The U.S. cannot impose freedom, security, and unity in Iraq by force.](https://sms4smile.com/quotes/peter-defazio/the-u-s-cannot-impose-freedom-security-and-unity-in-iraq-by-force/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [It was Osama bin Laden and al-Qaeda who attacked the U.S. on September 11, 2001, not Saddam Hussein and Iraq.](https://sms4smile.com/quotes/peter-defazio/it-was-osama-bin-laden-and-al-qaeda-who-attacked-the-u-s-on-september/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [About 75 percent of the crude oil marketed here is sold off the books, and they are doing trades that would be illegal if…](https://sms4smile.com/quotes/peter-defazio/about-75-percent-of-the-crude-oil-marketed-here-is-sold-off-the-books/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [Saddam Hussein was a brutal tyrant. I am glad he is now on trial for crimes against humanity. But, opposition to a dictator is…](https://sms4smile.com/quotes/peter-defazio/saddam-hussein-was-a-brutal-tyrant-i-am-glad-he-is-now-on-trial-for/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [In addition to a timeline, I have proposed that U.S. troops be removed from front line combat positions in Iraqi cities and towns, turning…](https://sms4smile.com/quotes/peter-defazio/in-addition-to-a-timeline-i-have-proposed-that-u-s-troops-be-removed/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [Insecurity is failing the American people miserably.](https://sms4smile.com/quotes/peter-defazio/insecurity-is-failing-the-american-people-miserably/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [Of the 55 refineries closed in America in the last 10 years, they were all closed for economic reasons, mostly oil company mergers. Not…](https://sms4smile.com/quotes/peter-defazio/of-the-55-refineries-closed-in-america-in-the-last-10-years-they-were/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [The U.S. cannot force Sunnis, Shias, and Kurds to make peace or to act for the common good. They have been in conflict for…](https://sms4smile.com/quotes/peter-defazio/the-u-s-cannot-force-sunnis-shias-and-kurds-to-make-peace-or-to-act/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [Nor should the U.S. military be forced to remain in Iraq essentially as an army for one side of a civil war.](https://sms4smile.com/quotes/peter-defazio/nor-should-the-u-s-military-be-forced-to-remain-in-iraq-essentially/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [The U.S. must renounce any U.S. interest in constructing permanent U.S. military bases in Iraq.](https://sms4smile.com/quotes/peter-defazio/the-u-s-must-renounce-any-u-s-interest-in-constructing-permanent-u-s/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [The training and equipping of Iraqi security forces should be accelerated.](https://sms4smile.com/quotes/peter-defazio/the-training-and-equipping-of-iraqi-security-forces-should-be/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [To the contrary, I believe the U.S. military has already done all that has been asked of them. Saddam Hussein is on trial. The…](https://sms4smile.com/quotes/peter-defazio/to-the-contrary-i-believe-the-u-s-military-has-already-done-all-that/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [Similarly, establishing a firm timeline for bringing our troops home could accelerate the development of Iraqi security forces and deepen their commitment to defending…](https://sms4smile.com/quotes/peter-defazio/similarly-establishing-a-firm-timeline-for-bringing-our-troops-home/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [But they are not going to take on Big Oil because Big Oil is very generous at campaign time, and this is all about…](https://sms4smile.com/quotes/peter-defazio/but-they-are-not-going-to-take-on-big-oil-because-big-oil-is-very/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) > [In crude oil trading, we have seen a 46 percent increase over 1 year in the margins there.](https://sms4smile.com/quotes/peter-defazio/in-crude-oil-trading-we-have-seen-a-46-percent-increase-over-1-year/) [Peter DeFazio](https://sms4smile.com/quotes/author/peter-defazio/) [Explore all 26 Peter DeFazio quotes ](https://sms4smile.com/quotes/author/peter-defazio/) ## More America quotes > [The costs of the Bush-Obama wars in Iraq and Afghanistan are now estimated to run as high as $4.4 trillion - a major victory…](https://sms4smile.com/quotes/noam-chomsky/the-costs-of-the-bush-obama-wars-in-iraq-and-afghanistan-are-now/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [Young men, especially in America, write to me and ask me to recommend “a course of reading.” Distrust a course of reading! People who…](https://sms4smile.com/quotes/andrew-lang/young-men-especially-in-america-write-to-me-and-ask-me-to-recommend-a/) [Andrew Lang](https://sms4smile.com/quotes/author/andrew-lang/) > [Well, The Day the Earth Caught Fire was a story... I don't if anybody knows what it is but it was about... in the…](https://sms4smile.com/quotes/val-guest/well-the-day-the-earth-caught-fire-was-a-story-i-don-t-if-anybody/) [Val Guest](https://sms4smile.com/quotes/author/val-guest/) > [So here's what I want you to know, and here's what I want all our men and women in uniform to know: Because of…](https://sms4smile.com/quotes/barack-obama/so-here-s-what-i-want-you-to-know-and-here-s-what-i-want-all-our-men/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [Today, the world looks to America for leadership. And America looks to its Corps of Marines.](https://sms4smile.com/quotes/ronald-reagan/today-the-world-looks-to-america-for-leadership-and-america-looks-to/) [Ronald Reagan](https://sms4smile.com/quotes/author/ronald-reagan/) > [The image of blacks usually is one of people who are suffering from hunger, unemployment, and poverty. The idea of them as agents and…](https://sms4smile.com/quotes/grace-lee-boggs/the-image-of-blacks-usually-is-one-of-people-who-are-suffering-from/) [Grace Lee Boggs](https://sms4smile.com/quotes/author/grace-lee-boggs/) > [ I'll smoke, I'll cough, I'll get the tumors, I'll die, deal? Thank you America. \[salutes\] ](https://sms4smile.com/quotes/bill-hicks/i-ll-smoke-i-ll-cough-i-ll-get-the-tumors-i-ll-die-deal-thank-you/) [Bill Hicks](https://sms4smile.com/quotes/author/bill-hicks/) > [America is a democracy and has no Hitler, but I am afraid for her future; there are hard times ahead for the American people,…](https://sms4smile.com/quotes/albert-einstein/america-is-a-democracy-and-has-no-hitler-but-i-am-afraid-for-her/) [Albert Einstein](https://sms4smile.com/quotes/author/albert-einstein/) > [I'm gonna bring America together.](https://sms4smile.com/quotes/donald-trump/i-m-gonna-bring-america-together/) [Donald Trump](https://sms4smile.com/quotes/author/donald-trump/) > [In the nineteenth century some parts of the world were unexplored, but there was almost no restriction on travel.:; Up to 1914 you did…](https://sms4smile.com/quotes/george-orwell/in-the-nineteenth-century-some-parts-of-the-world-were-unexplored-but/) [George Orwell](https://sms4smile.com/quotes/author/george-orwell/) > [We need a system that serves our needs, not the needs of others. Remember, under a Trump administration it's called America first. Remember that.](https://sms4smile.com/quotes/donald-trump/we-need-a-system-that-serves-our-needs-not-the-needs-of-others/) [Donald Trump](https://sms4smile.com/quotes/author/donald-trump/) > [America, you're sending girls a mixed message. On one hand, you're saying to have positive body image and love who we are; on the…](https://sms4smile.com/quotes/adora-svitak/america-you-re-sending-girls-a-mixed-message-on-one-hand-you-re/) [Adora Svitak](https://sms4smile.com/quotes/author/adora-svitak/) > [You live overseas, you see these exotic places and you want to know about them. But, weirdly, it also made me homesick for all…](https://sms4smile.com/quotes/ken-jennings/you-live-overseas-you-see-these-exotic-places-and-you-want-to-know/) [Ken Jennings](https://sms4smile.com/quotes/author/ken-jennings/) > [Freedom in every sense but primarily political sense, a rise in repression that stems from a repression of sexuality. 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