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by Mountain_Skies
2923 days ago
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Your second point is interesting since the US Dollar is the primary currency used for the oil trade. Demand for dollars beyond our borders lets us export our debt through inflation. If there is less reliance on oil, demand for dollars to service that market goes down and so does our ability to pass part of our debt off on to everyone who holds dollars. No idea if this is a large enough effect to matter or if there are other feedback loops that counteract it but decreased oil usage could have its own negative economic effects that aren't immediately apparent. |
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