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Michael J Burgess · 1w
Trump keeps talking as if US energy production makes the Strait of Hormuz irrelevant. It doesn't. America may produce a huge amount of oil and gas, but oil is priced in a global market. If Hormuz is ...
๐Ÿ‡ต๐Ÿ‡ธ whoever loves Digit profile picture
You're wrong, we can just ban US oil companies from exporting oil any time to isolate the US market if we want.

That includes Trump, just depends whether he / his supporters prefer cheap gas or higher profits for the oil companies.
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Michael J Burgess · 1w
An export ban would not magically insulate the US. Oil still trades in a global market; refined products are linked to global pricing; and US refineries are not all set up to run solely on the crude America produces most of. You might change some domestic flows at the margins, but you do not switch ...