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World Wide Oil Monopoly?
Posted on 4/13/26 at 8:48 am
Posted on 4/13/26 at 8:48 am
I did not see this coming but it seems to me that US has control over a very large share of the world distribution of oil & gas. Not sure if this was by design or just happened to work out that way. Trump and the drill baby drill policy has radically increased domestic oil production. USA and Venezuela control 68% according to Trump. Now factor in the new blockade of Strait of Hormuz and very little oil is going to be distributed without USA sanctioning it. If those tankers continue to dock in Gulf ports for their supply of oil and gas, the USA profits will be staggering.
9
Posted on 4/13/26 at 8:50 am to TigerPlate
quote:
USA and Venezuela control 68% according to Trump
Posted on 4/13/26 at 8:51 am to TigerPlate
I’m not opposed to is having a large chunk of market share but being the main exporter when our own gas prices are high and energy costs are going up doesn’t seem like the best move. We would be better off if we kept the vast majority in house.
I know there are different kinds/variation of petroleum though so I don’t know if ours isn’t compatible with our needs or what it is though
I know there are different kinds/variation of petroleum though so I don’t know if ours isn’t compatible with our needs or what it is though
Posted on 4/13/26 at 8:53 am to TigerPlate
Let me play Devil's advocate to your point. Oil is literally the life line to every economy, without it, there is mass death and civil unrest. If we starve out a nation that has nuclear capability, then what do they have to lose by striking?
Posted on 4/13/26 at 8:54 am to TigerPlate
I just wonder why we can't put a cap on the price for domestic oil at times like this. If indeed we are self-reliant if we could cap our price and it would put more pressure on the other countries who are suffering with the high prices to pressure iran and get more involved in opening up the strait.
Posted on 4/13/26 at 8:56 am to Henry Jones Jr
quote:
I’m not opposed to is having a large chunk of market share but being the main exporter when our own gas prices are high and energy costs are going up doesn’t seem like the best move. We would be better off if we kept the vast majority in house.
Keeping all our oil wont drop price as long as its a globally traded commodity
Its not a supply issue here but it is elsewhere
Thanks globalism
Posted on 4/13/26 at 8:58 am to TigerPlate
quote:
Trump and the drill baby drill policy has radically increased domestic oil production
Thanks to the U.S. Shale Industry and booming technological advances, domestic oil production was "radically" increasing prior to President Trump taking office in January 2017, and continued through his first term, through Biden's term, while the escalation has subsided some, record production numbers are continuing thus far in his second term.
Posted on 4/13/26 at 9:02 am to mtb010
quote:
Let me play Devil's advocate to your point. Oil is literally the life line to every economy, without it, there is mass death and civil unrest. If we starve out a nation that has nuclear capability, then what do they have to lose by striking?
I've been thinking about that as well with particular regard to China. They are unsustainable without Iranian oil now that VNZ crude is no longer an option.
Kind of surprised there hasn't been more discussion about China and their response to this blockade. There isn't another Iran that has million of available barrels sitting around that isn't already spoken for. Regardless, hope this puts Iran in compliance soon.
Posted on 4/13/26 at 9:03 am to TigerPlate
Even if the U.S. takes sole control over all oil shipments through the Strait of Hormuz and Venezuelan exports, that’s hardly a monopoly. Is it a LOT of oil? Yes. Is it enough oil to be able to use as leverage in negotiations and actively manipulate prices as a bargaining chip? Yes. However, that really downplays just how much oil is being produced elsewhere: Canada, Mexico, Nigeria, Indonesia, The North Sea, Russia, etc.
Posted on 4/13/26 at 9:03 am to TigerPlate
It was 100% all by design. JD and Trump and Rubio knew the talks would fall through and this is exactly what they wanted the entire time
Posted on 4/13/26 at 9:04 am to Topwater Trout
Oil used domestically is priced wholesale while oil sold internationally is for profit.
Posted on 4/13/26 at 9:39 am to Topwater Trout
global market decides price of oil. Drill all day. Won't matter.
Posted on 4/13/26 at 9:40 am to FLTech
quote:
It was 100% all by design. JD and Trump and Rubio knew the talks would fall through and this is exactly what they wanted the entire time
Posted on 4/13/26 at 9:42 am to Henry Jones Jr
quote:
I know there are different kinds/variation of petroleum though so I don’t know if ours isn’t compatible with our needs or what it is though
Our refineries aren't set up for most of our crude.
Posted on 4/13/26 at 9:44 am to Henry Jones Jr
quote:
being the main exporter when our own gas prices are high and energy costs are going up doesn’t seem like the best move. We would be better off if we kept the vast majority in house.
This fundamental lack of understanding of the economics of the world's (by far) most important global energy commodity is why it's so easy for Americans to be propagandized.
Posted on 4/13/26 at 9:45 am to TigerPlate
quote:
If those tankers continue to dock in Gulf ports for their supply of oil and gas, the USA profits will be staggering.
Yeah, I don't think the profits come to the US. But we control who the oil goes to and likely the market price. So no more discounts to the Chinese. More than anything else, Iran can't stop the flow of oil out of the region.
Posted on 4/13/26 at 9:46 am to ragincajun03
You really believe this.
Posted on 4/13/26 at 9:48 am to mtb010
quote:
If we starve out a nation that has nuclear capability, then what do they have to lose by striking?
I think this is a good question, my answer is, of course, mutually assured destruction, but also that they'd lose everything else that could've possibly been negotiated BEFORE going nuclear.
Posted on 4/13/26 at 9:49 am to TigerPlate
quote:
You really believe this.
It isn't a matter of belief. It's a matter of fact. You would have to know nothing about the industry not know that the shale boom started before Trump was president.
Posted on 4/13/26 at 9:52 am to Judnnc
Supply and demand factor into the price. That is how OPEC used to control the price per barrel. Now that US & Venezuela oil is such a large contributor to the global market they have a say so on the amount available to enter the supply. Issue now is not so much production as distribution.
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