Will Trump try to block oil exports from the United States?
I don’t know if he has the legal authority to do this, but does it even matter with Trump?
Domestic prices will rise if 1) foreign supplies fall and 2) domestic production is diverted to fill demand overseas. Trump could keep domestic supplies from being diverted and we could still use world markets to fill holes in domestic production.
Of course, this would be an unspeakably crappy thing to do to the world, given that the whole supply disruption is our fault, but after some careful calculation we can determine that Trump gives exactly zero shits about that.
So: Is this happening? If not, why?
Also, read Krugman today:
Beyond the military, every politician, dare I say every public figure, in America should make it clear that Trump is not acting in their name.
Spot on.
Eric:
It will go to where the money is without Trump deciding.
The question is whether the US can refine what we need?
“President Trump can encourage US domestic oil producers to pump more oil, but producers will only invest in this if they believe doing so will be financially beneficial.
If the price of WTI remains elevated and demand for US oil exports grows, frackers should be able to increase production rapidly. To provide additional—if limited—mitigation, Trump can also encourage OPEC+ to raise production quotas so that the producers with the ability to pump and move more oil can do so.”
What the US can do to mitigate an impending energy crisis
This was written March 5 well before our Pres decided to watch the United States burn. Reincarnated Nero?