The death of 3 U.S. service members is forcing President Joe Biden to weigh military action that could carry risks of escalation and heavy political consequences.
Unfortunately we really do. Yes there have been some initiatives towards a green economy, but those are half measures and progressing slowly. For the time being the world economy is insanely dependent on oil. And yes, the US is part of the world.
Now you may have run some numbers on oil imports vs. exports. But that oil is controlled by corporations. Even if it may be a US corporation, their loyalty to the bottom line is significantly greater than their loyalty to the country. So if a US company can sell a barrel of oil to Europe for five cents more than they can sell it in the US, they will sell that oil to Europe.
Which means the US oil prices matches the global oil prices. If there’s a disruption in the oil supply anywhere in the world, it will affect the price of gas in the US. And the gas prices influences the voting decisions of many Americans, either directly, or indirectly when the economic performance drops because of disruptions in the oil market.
I too long for the day when we can tell Mr. Bonesaw to go pound sand, but unfortunately we’re not there yet.
Have to disagree with you there. We can stop oil exports in case of an emergency, like ol bonesaw getting the axe.
“Congress voted in 2015 to repeal a 40-year ban on exporting U.S. crude oil. Since that year, crude exports have skyrocketed nearly 600% to 3.2 million barrels per day in 2020, according to data from the U.S. Energy Information Administration.
Biden has authority under the legislation to declare an emergency and limit or stop oil exports for up to a year.”
Unfortunately we really do. Yes there have been some initiatives towards a green economy, but those are half measures and progressing slowly. For the time being the world economy is insanely dependent on oil. And yes, the US is part of the world.
Now you may have run some numbers on oil imports vs. exports. But that oil is controlled by corporations. Even if it may be a US corporation, their loyalty to the bottom line is significantly greater than their loyalty to the country. So if a US company can sell a barrel of oil to Europe for five cents more than they can sell it in the US, they will sell that oil to Europe.
Which means the US oil prices matches the global oil prices. If there’s a disruption in the oil supply anywhere in the world, it will affect the price of gas in the US. And the gas prices influences the voting decisions of many Americans, either directly, or indirectly when the economic performance drops because of disruptions in the oil market.
I too long for the day when we can tell Mr. Bonesaw to go pound sand, but unfortunately we’re not there yet.
Have to disagree with you there. We can stop oil exports in case of an emergency, like ol bonesaw getting the axe.
“Congress voted in 2015 to repeal a 40-year ban on exporting U.S. crude oil. Since that year, crude exports have skyrocketed nearly 600% to 3.2 million barrels per day in 2020, according to data from the U.S. Energy Information Administration.
Biden has authority under the legislation to declare an emergency and limit or stop oil exports for up to a year.”
https://www.reuters.com/world/us/bipartisan-group-warns-biden-not-halt-us-oil-exports-letter-2021-12-09/