| ▲ | dizlexic 3 hours ago |
| Depends, I just want to point out that the US is a net exporter of Oil. They also secured oil imports from Venezuela while at the same time in 2 strokes seriously hurt Chinese oil imports. If the goal was to hurt China / BRICS and kneecap Iran it seems on point. It's always hard to predict how the USA will vote when "war" is happening. |
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| ▲ | piva00 3 hours ago | parent | next [-] |
| > If the goal was to hurt China / BRICS and kneecap Iran it seems on point. While also hurting Europe, South Korea, Japan, the Philippines, and many more. Very on point... It will hurt everyone, Americans included, oil is a global market, fertilisers are a global market, those are basic inputs for probably every single thing produced in the world. So now all of us around the globe have to pay the price for American Imperialism, compounded by the complete shattering of the USA's soft power as an ally, this will only create more animosity against the USA from all sides. Very on point. But the USA oil industry can make a buck until everything buckles, or perhaps the USA admin will introduce price controls like in the 1970s, that worked very well too. |
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| ▲ | spwa4 3 hours ago | parent [-] | | > It will hurt everyone, Americans included, oil is a global market, fertilisers are a global market, those are basic inputs for probably every single thing produced in the world. Only because those countries choose for that to be the case. For example, Saudi Arabia and Russia don't do that. Local prices and export prices are different. But the US, Canada, the Netherlands, and long list of other countries could make this crisis have zero effect on local prices. They choose to take every excuse to raise prices (in fact the Netherlands goes further: if sales tax on gas raises because prices raise, the amount of tax paid is kept constant if prices drop. So they artificially raise local gas prices. So if gas prices are low, tax on gas has at one point reached 72%), but it is fundamentally a government choice. | | |
| ▲ | mamonster 2 hours ago | parent [-] | | >But the US, Canada, the Netherlands, and long list of other countries could make this crisis have zero effect on local prices. The US Government cannot force US companies to sell at a lower domestic price if they can get a higher price exporting. I know that God-Emperor Trump pretends that he can command the oil sector to make less money, but he can't. >For example, Saudi Arabia and Russia don't do that 2 countries famous for being beacons of free-market capitalism. | | |
| ▲ | Marsymars an hour ago | parent [-] | | > The US Government cannot force US companies to sell at a lower domestic price if they can get a higher price exporting. That's not a mechanism that anyone is proposing. The US government can, however, apply an export tariff that's used to subsidize local prices. |
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| ▲ | Frieren 3 hours ago | parent | prev | next [-] |
| > in 2 strokes seriously hurt Chinese oil imports. USA, Europe, and many other countries depend on China for manufacturing. I doubt that this is going to solve inflation. But it will fill the pockets of a few people in oil rich countries that can still export. |
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| ▲ | burningChrome 3 hours ago | parent [-] | | Inflation is currently at 2.4%. How much lower do you want it to go? | | |
| ▲ | muddi900 2 hours ago | parent [-] | | Still above the fed's 2% target. And it will go higher now. And given the President's hatered for high interest rates and the next fed chairman being a garden-variety lick-spittle, things are not looking up. |
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| ▲ | bilekas 3 hours ago | parent | prev | next [-] |
| > They also secured oil imports from Venezuela while at the same time in 2 strokes seriously hurt Chinese oil imports. This 'Venezuelan oil' is a pipe dream for the moment. It will take a significant amount of years to get anywhere near completed. |
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| ▲ | 1234letshaveatw 3 hours ago | parent [-] | | really? where are their oil exports going now? | | |
| ▲ | piva00 3 hours ago | parent [-] | | They aren't pumping that much oil since Chavez, the expertise for extracting oil was lost during nationalisation. It needs a lot of work to restart extraction, it will take years. |
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| ▲ | bootsmann 3 hours ago | parent | prev | next [-] |
| Oil markets are global, you cannot hike prices for China while enjoying cheap oil yourself. |
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| ▲ | dizlexic 3 hours ago | parent [-] | | Unless china is importing sanctioned oil from.... Iran, Russa, and Venezuela at discounted rates. I think this has been the crux of many allegations against China. They don't operate fairly in global markets. | | |
| ▲ | solarpunk 2 hours ago | parent [-] | | Just for my own understanding, you're not insinuating the US is currently playing fair with regards to starting the war that caused all this? | | |
| ▲ | dizlexic an hour ago | parent [-] | | Just for my own understanding, you're not insinuating China isn't violating international sanctions to purchase oil at a discount? |
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| ▲ | wmfiv 3 hours ago | parent | prev | next [-] |
| Venezuela has reserves. Relative to the gulf it doesn't produce any meaningful amount of oil from those reserves. |
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| ▲ | johncolanduoni 3 hours ago | parent | prev | next [-] |
| Just because the US won’t literally run out of oil doesn’t mean the economy (or populace) will be unaffected by a supply crunch. As everyone in the country can already see when they go to fill up their tank. |
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| ▲ | 3rodents 3 hours ago | parent | prev | next [-] |
| “If the goal was the hurt China…” You are mistaken to assume there was a goal. Trump has admitted he did this because he was told that Iran were about to attack the U.S. not because of any strategic goal. https://youtube.com/shorts/YlkcOjSQVJk |
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| ▲ | mytailorisrich 3 hours ago | parent | prev | next [-] |
| The 'issue' here is that China has good relations with Iran and in talks to guarantee safe passage for their ships, like they had previously with respect to attacks off Yemen by the Iran-backed Houthis. |
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| ▲ | christkv 3 hours ago | parent | prev | next [-] |
| They don’t need Venezuela look up Guyana next door its the new oil country in the region |
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| ▲ | ericmay 3 hours ago | parent [-] | | What makes you think that if this was the case that the US wouldn’t also take action there to secure those oil exports? | | |
| ▲ | dmix 3 hours ago | parent [-] | | ExxonMobil is the one who found oil in Guyana, the US is already there |
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| ▲ | relaxing 3 hours ago | parent | prev [-] |
| China is still moving tankers through the strait, Iran has no quarrel with them. |
