Lovely_sombrero [he/him]

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Joined 6 years ago
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Cake day: July 26th, 2020

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  • The US is an oil importer. The US is a net energy exporter (natural gas plays a huge role here). And even with higher prices, oil & gas revenue will be like ~2% of the US economy at most. Sure, some of Trump’s donors are probably very happy, but the US economy won’t be happy with the blockade in the long-term. Also, the US economy is about ~2x as oil-dependent as other developed countries, so higher oil prices might actually hurt the US economy more, if the distribution of oil was evenly spread out. Since it isn’t (the US can satisfy most of its consumption with domestic production), the US will be hurt later than Asia or Europe.

    On top of all that, the US is a burgerreich. In Europe, there will be a lot of confusion and misdirected blame, mostly because no one really knows who actually makes the decisions in the EU. In the US, the president would be blamed even if he had nothing to do with higher gas prices.