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Oh my. Is this what Fox News teaches? - Gutting the Fed Gov doesn't bring down inflation or prices. These are not correlated issues. - The US is a net exporte

Oh my. Is this what Fox News teaches? - Gutting the Fed Gov doesn't bring down inflation or prices. These are not correlated issues. - The US is a net exporter of oil, doesn't depend on the Saudis. - "Giving Ukraine" to Putin won't happen, as much as Trump would like to help his buddy out, but because the EU won't let it, because Congress ultimately controls spending, not POTUS, and they're the ones (mostly the GOP) pushing for more military aid and a bigger budget (they upped Biden's military budget and aid to Ukraine). But even if Trump did drop all US military aid to Ukraine, the Ukraine won't just collapse, that would take time. And even if Russia did fully occupy Ukraine and "end" the war, that doesn't impact food prices in the US as food imports from the Ukraine are a tiny percentage of total food imports, very little impact. Sunflower oil, maybe. These are not factors that will bring down prices.

treyfitty 2y ago
Is there a citation for the US being a net exporter of oil? Last I checked, they were a net exporter of Gas, which is not the same as oil. Oil is refined to produce gas, and the US imports the majority of said oil.
- hollerith 2y ago
  Yes, for years now, the US has been the world's largest producer of crude petroleum because of the invention of hydraulic fracturing (fracking). Larger than Saudi Arabia. The US still imports a lot of petroleum, but that is only because it has a comparative advantage in refining heavy crude. Most of the crude produced in the US is very light sweet crude, which is easier to refine. Some of that gets exported and refined overseas.
- insane_dreamer 2y ago
  US Energy Info Admin: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrexus1&f=a https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=m...
- etherealG 2y ago
  Why would you ask for a citation of something so easy to verify?

treyfitty 2y ago

Is there a citation for the US being a net exporter of oil? Last I checked, they were a net exporter of Gas, which is not the same as oil. Oil is refined to produce gas, and the US imports the majority of said oil.

hollerith 2y ago
Yes, for years now, the US has been the world's largest producer of crude petroleum because of the invention of hydraulic fracturing (fracking). Larger than Saudi Arabia. The US still imports a lot of petroleum, but that is only because it has a comparative advantage in refining heavy crude. Most of the crude produced in the US is very light sweet crude, which is easier to refine. Some of that gets exported and refined overseas.
insane_dreamer 2y ago
US Energy Info Admin: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrexus1&f=a https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=m...
etherealG 2y ago
Why would you ask for a citation of something so easy to verify?