*For the rest of the world.

The cruel irony here is that this really won't affect the US at all. Europe and Asia will feel the brunt of it, and they seem completely uninterested in working toward a solution.

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dgellow 2 hours ago | parent | next [-]

Why wouldn’t that affect the US? Isn’t the price of oil global? It’s not like US oil will be sold for cheaper to the local population, if that would be the case the incentive would be to export at the higher price instead, no?

	▲	porknubbins an hour ago \| parent [-]
		If you look at gas prices in Saudi Arabia, some of it is subsidised to be lower but clearly its much cheaper to be consuming your own energy vs purchasing it internationally for a variety of reasons. The size of the effect is a messy economics question, not a black and white thing.

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noah_buddy 2 hours ago | parent | prev [-]

Not true at all. USA will see large scale inflation. Oil and derivatives are basically the central global commodities.