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> This is all being exacerbated by the disastrous war in Iran No, why? US is an exporter, not importer of oil, so any price increase of crude oil is good for U
by deepsun 2mo ago
> This is all being exacerbated by the disastrous war in Iran
No, why? US is an exporter, not importer of oil, so any price increase of crude oil is good for US. Maybe not consumers, but government (Venezuela had literal amine while exporting a lot of oil and honoring all of the international debt payments). So US must have more money to service its international debt.
- enraged_camel 2mo ago>> US is an exporter, not importer of oil, so any price increase of crude oil is good for US. It is good for US oil producers, who have indeed been making money hand over fist exporting oil at a premium. It certainly it not good for anyone else.
- deepsun 2mo agoYes, I mentioned literal famine. But I'm talking about budget deficit -- more exports money certainly should help with balance.
- RealityVoid 2mo agoWhat happens to the local price of oil if you are able to export the oil at a much higher price?
- nonethewiser 2mo ago[dead]
- deepsun 2mo agoIt goes up. E.g. Washington state has a lot of cheap hydroelectricity, but once they started selling it to other states, it's local prices grew up a lot. But I'm talking about budget deficit: more money in -- easier to service debt.