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Started By
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If we produce all of our oil needs domestically, should we be immune from Iran/Hormuz ?
Posted on 3/1/26 at 4:13 pm
Posted on 3/1/26 at 4:13 pm
(no message)
7
Posted on 3/1/26 at 4:25 pm to tigerdude12
Wish it was that simple.
Posted on 3/1/26 at 4:27 pm to tigerdude12
THere are a lot of things that come into play.
Supply
Demand
Price per barrel affects domestic producction.
Trump thought about all this, man.
It's going to be alright.
Supply
Demand
Price per barrel affects domestic producction.
Trump thought about all this, man.
It's going to be alright.
Posted on 3/1/26 at 4:28 pm to tigerdude12
Readabookdude
Posted on 3/1/26 at 4:32 pm to dstone12
quote:
Trump thought about all this, man.
It does seem POTUS Trump has a far better instinct for managing America's finances.
I am hearing 16 trillion heading our way after this Iranian adventure.
Posted on 3/1/26 at 4:33 pm to tigerdude12
Oil is global commodity. Yes we produce enough for the US. But, we also sell some and buy some. So we are still subject to global price shocks
Posted on 3/1/26 at 4:35 pm to Timeoday
quote:
I am hearing 16 trillion heading our way after this Iranian adventure.
Would be interested in your sources on that one.
Posted on 3/1/26 at 4:36 pm to tigerdude12
Domestically…maybe.
However, China may have an issue. That means countries (and businesses) that rely on China could be impacted.
Global supply chains need oil.
It is what it is.
However, China may have an issue. That means countries (and businesses) that rely on China could be impacted.
Global supply chains need oil.
It is what it is.
Posted on 3/1/26 at 4:52 pm to tigerdude12
No. Even though there are enough proven oil reserves in the Western Hemisphere to fuel our nation’s energy needs.*
The reason is because of the Petrodollar Pact. After Nixon closed the door on the gold standard in 1971, Saudi Arabia agreed to price it’s oil in USDs.
This agreement protected Saudi Arabia from Soviet aggression while also maintaining global demand for the U.S. currency even without gold backing. Yet while a brilliant piece of political statecraft in it’s day, the Petrodollar has been a disaster for both the U.S. dollar and our nation’s security since at least the end of the Cold War.
This is one of the primary reasons the United States has been locked in a permanent state of war in the Middle East for the past few decades. Nothing fundamentally changes until this nation returns to sound monetary policies: NOTHING.
*Thank You Uncle Nicolas Maduro!
The reason is because of the Petrodollar Pact. After Nixon closed the door on the gold standard in 1971, Saudi Arabia agreed to price it’s oil in USDs.
This agreement protected Saudi Arabia from Soviet aggression while also maintaining global demand for the U.S. currency even without gold backing. Yet while a brilliant piece of political statecraft in it’s day, the Petrodollar has been a disaster for both the U.S. dollar and our nation’s security since at least the end of the Cold War.
This is one of the primary reasons the United States has been locked in a permanent state of war in the Middle East for the past few decades. Nothing fundamentally changes until this nation returns to sound monetary policies: NOTHING.
*Thank You Uncle Nicolas Maduro!
This post was edited on 3/1/26 at 5:29 pm
Posted on 3/1/26 at 5:01 pm to tigerdude12
Some of our refineries and plants want a heavier crude than what’s produced in the Permian or DJ Basin.
It’s still a global trade, but the fact we’re now dishing out the current domestic volumes helps us immensely so we’re not suddenly subject to $4/gallon gasoline.
It’s still a global trade, but the fact we’re now dishing out the current domestic volumes helps us immensely so we’re not suddenly subject to $4/gallon gasoline.
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