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> The United States has a net export of around 0 barrels, meaning that it is neither an importer nor an exporter of oil today. So macroeconomically the US shoul
by nutjob2 7y ago
> The United States has a net export of around 0 barrels, meaning that it is neither an importer nor an exporter of oil today. So macroeconomically the US should be more or less unaffected on an aggregated level.
Not true. Shale oil is very expensive to extract while Saudi oil is amongst the cheapest. Low prices are going to put shale producers out of business and the Saudis will gain market share.