@Yibbieyo11@RealFletch17@PrometheanActn So you are going to dictate to whom I can sell my commodity and at a discount? That’s not how US trade policy works, not how a free or open market works.
Commifornia has the dumbest policies of all. Half their crude comes from the rainforest.
@Yibbieyo11@RealFletch17@PrometheanActn I have an oil company, it’s great for me(a domestic producer), bad for U.S. consumers and the markets as a whole as they have to absorb that global increase.
The only thing that can end this is Iran opening the strait, not enriching Uranium, and ending proxy attacks.
All of those things happening at once will never happen. They have been fighting for thousands of years and will be fighting for thousands more. My president who has 2 years left in office has no bearing on that. IMO he is getting some very poor advice.
The economic realities of this will hit mid July and just get worse if we do not leave, nuke, or put boots on the ground, none which are good or popular.
Congress provided him an easy out, but Trump doubling down. 😵💫
If I was referring to you as “dude” I would have put a comma after it. I was referring to Promethean.
The economic reality is that ongoing global tightness from the Iran related disruptions has kept crude and product inventories low heading into summer. That demand has not yet been reflected at the pumps, once that starts trickling down to consumers the conflict will have to end. The relatively high prices we see right will seem low in comparison.
As for some greater issue that will disrupt the global banking system good luck, the banks and oil companies are just making more money. This closure is increasing global inflation and may lead to spikes in interest rates. Not to mention allied pressure on the USA to end the conflict.
If they come to an agreement and open the strait then great. But if history is any indicator I think they will still be fighting over there in 1000 years and the president of our country has no control over that.
@putty360@EricLDaugh I don’t think you understand the economic realities for Americans and globally if the strait remains closed. Alternative measures will have to be discussed, the SPR has been ransacked, reality will hurt in July.
Prices will skyrocket for Americans and globally if this continues. The week of July 6th will be a week of reckoning on the oil markets. Can’t continue to keep the economic realities from the public if it continues, refined products and crude prices will force alternative measures.
It’s very bad for the majority of Americans. We have no way to combat the closure without putting boots on the ground or worse.
If this continues prices will skyrocket in July, we have not felt the economic consequences yet. This is economic and logistical reality.
Not to mention we have been our draw downs on the SPR to help try to diminish these price spikes.
Reality says if we don’t pull out or come to an agreement then prices will get much higher. I think Trump is getting some awful guidance on this issue.
This was his way out, this is really really bad.
If we continue to play with Iran the strait will remain closed longer than we can supplement the market with the SPR. Once that happens the reality is an extreme increase in petroleum and refined products COSTS.
If you think gas is high now, just wait until after July 4th