The US is the largest oil producer in the world because of Trump’s energy policy. Some years ago oil would have jumped 10-20% on Iran’s actions. Today, the US is the swing producer so the world is less reactive to Middle East strife. The big beneficiary of what happens in the Middle East is that the world now looks to the US to keep markets stable. What a strategic shift under Trump and great for America’s independence from Middle East oil supply.
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Disruption in supply anywhere leads to price increases everywhere. Oil futures went up immediately.
This is the result of Trump’s idiot policies, but not in the way you think.
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Link: https://twitter.com/SecPompeo/status/1139237781664874499
Google “JCPOA” and “sanctions.”
This is our fault.
So if I tell you that I don't like your house being blue and I demand you paint it white or else I'll burn it down, under your reasoning it would be your fault if I burned your house down because you refused to paint it white.
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We don’t need their oil. Imagine that. So we are an honest broker. Let Iran attack crude shipments. Who will suffer the impact? Europe, Japan and China. We have been protecting that oil flow for decades because we needed too. Now not so much. Where are the European, Japanese or Chinese navy’s protecting the straits? Fuck them. If you don’t understand how the global dynamic has changed your shouldn’t respond.
But Europe does. And China does. And Japan.
And to repeat, it’s a global market, with global price determined by global supply and global demand.
We don’t get much oil from Saudi Arabia, for instance, but if Saudi oil goes offline somehow our price at the pump would skyrocket.
I don’t know why this is hard.
Who owns the market share makes a world of difference. When OPEC controlled world oil production we kissed their asses and protected the oil straits. For the entire world by the way. With no thanks from Europe, Japan or China. But now we don’t need their oil because we are expanding our domestic production. So guess what, we can give both our enemies and our allies the middle finger. Do you have any idea how that repositions the US in global oil trade?
Why is our Navy there protecting the oil flow? Because we can and no one else, Russia, Japan, or China can. Do you understand that leverage?
Trump with the US previously a huge importer of crude oil the price increase would have been significantly higher. Remember, both Iran and Venezuela are essentially off the market. So tell me why crude prices are not at a $100 per barrel? Please enlighten me. I may not know a lot on many issues. Take me on with oil at your peril.
US production is up, and Saudi.
It’s a global market, with global prices. If you’re really in the business, you know this.
If tankers start sinking anywhere, prices rise everywhere.
the market it has an impact. Are you aware that Iran and Venezuela represent over 5 million barrels per day of production that isn’t in the market. And yet prices haven’t increased until today with these tankers. That’s because the world is saturated with oil. Why because the US is an exporter and not a net importer. Do you understand market dynamics? The more the Middle East is unsettled the more the world will depend on the US to stabilize markets. Like the US dollar is the reserve currency. The US is now the stabilizer in world oil prices. Do you understand how that impacts global energy trade?
Your posts are all over the place, bringing up new stuff every time, some of which is right and some of which is nonsense. The geopolitics is the nonsense, mostly.
I’ll just keep repeating the obvious: it’s a global market in which disruptions anywhere affect price everywhere. Immediately.
Two tankers is hardly a major disruption, which presumably you’d know if you’re a hotshot oil baron or whatever.
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he's an expert.
Nothing I said was wrong. Everything PB said was wrong.
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That made me laugh
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On the other hand, it's easy to have a strong opinion in one's own self interest no latter how delusional.
Street cred.
Chris' cutting remarks reduced to cinders.
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