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The expectation is that US consumers will reduce consumption rather than absorb higher prices. Interesting effects for the rest of us with the cheap oil, thoug
by pjc50 2y ago
The expectation is that US consumers will reduce consumption rather than absorb higher prices.
Interesting effects for the rest of us with the cheap oil, though. I doubt it will offset the effects of reduced exports to the US but it usually has a positive effect on the economy.
- awaaz 2y ago> cheap oil, though. I doubt it will offset the effects of reduced exports to the US but it usually has a positive effect on the economy. And a terrible effect on the environment. But that's not what anybody is worried about right now.
- sightbroke 2y agoMaybe if the price difference does indeed lead to more oil used. Lower prices might be good for countries like Germany to stockpile for Winter (so oil & gas they'd already use anyways) while hurting producers that rely on it being a high price to be profitable. Less profitable may lead to less investment in oil development while wind, solar, and other means become more prevalent.
- bigbadfeline 2y agoI don't use oil but gas has been going up here (Midwest) in the past 2-3 weeks, since the big talk about tariffs started.