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by ncallaway
101 days ago
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> It's not a big threat to the US. The US is a net oil exporter, has the Strategic Petroleum Reserve, and, if absolutely necessary, Trump could make up with Canada so those oil imports restart. The SPR is 58% full, so... not empty but also not all the way full. Additionally, even though we're a net oil exporter, we're not insulated from the global oil market rates. Local producers aren't going to sell into America more cheaply than they can sell internationally, so if international rates spike, prices will go up domestically too. If the Straight of Hormuz remains closed for an extended period of time, we'll definitely feel the pinch domestically. |
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