Well, China buys 90% of Iran's oil (which is only 40% of China's oil consumption) so not a lot of it gets onto Western markets. There is no reason for any problems in Iran to affect our oil prices, unless there are opportunists and gougers out there who simply want to make a quick buck.
EDIT: This is just further reason for us to develop out own oil, drill baby drill, and open up all our reserves. We should become energy independent and not rely on energy from the middle east, Canada, or anywhere else.
Observe what you just stated. Brings up a curious notion; If China is the main buyer, and we basically did them a solid, of sorts, could be a negotiating tactic for China to suck up or we will buy them out. We have no reason really to, as you said, cause it's completely unnecessary, but China isn't in a position to be able to trade blows with the US as some think they are. Accept the tariffs, get out of USA economy, or we will buy in on the supply. No more wars though!!!
Interesting thought. If Trump makes a trade deal with a newly pacified Iran to buy 90% (or 100%) of their oil, it would certainly make waves in China. But I'll go you one better... what if WE had a trade deal with China to buy all their oil ONLY from us? It would create an economic boom here in America in the oil industry, and Iran would have to scramble to find buyers for their oil.
It's a delicate game, but one that I'm pretty sure the Trump Team knows all about and are making moves right now. We may find out about it later on.
Well, China buys 90% of Iran's oil (which is only 40% of China's oil consumption) so not a lot of it gets onto Western markets. There is no reason for any problems in Iran to affect our oil prices, unless there are opportunists and gougers out there who simply want to make a quick buck.
EDIT: This is just further reason for us to develop out own oil, drill baby drill, and open up all our reserves. We should become energy independent and not rely on energy from the middle east, Canada, or anywhere else.
Observe what you just stated. Brings up a curious notion; If China is the main buyer, and we basically did them a solid, of sorts, could be a negotiating tactic for China to suck up or we will buy them out. We have no reason really to, as you said, cause it's completely unnecessary, but China isn't in a position to be able to trade blows with the US as some think they are. Accept the tariffs, get out of USA economy, or we will buy in on the supply. No more wars though!!!
Interesting thought. If Trump makes a trade deal with a newly pacified Iran to buy 90% (or 100%) of their oil, it would certainly make waves in China. But I'll go you one better... what if WE had a trade deal with China to buy all their oil ONLY from us? It would create an economic boom here in America in the oil industry, and Iran would have to scramble to find buyers for their oil.
It's a delicate game, but one that I'm pretty sure the Trump Team knows all about and are making moves right now. We may find out about it later on.
Well, in that case, Iran/Russia would keep their peace id suppose.
Still makes my blood boil that last P.O.S. and his handlers did shutting down the pipeline.
There is a LOT to be pissed off about over President Auto-Pen, my fren.
💯👍
Well here in Cali, those prices just give NewScum a reason to increase or create another fuel tax! 😂😂 All to make sure we don’t get a cost break.
Yet gas prices retail side are still inflated.
$20 a barrel is what I'd like to see, and I'm old enough to know it's doable. Though any decrease is 💯 a step in the right direction!
What I can't understand is, if barrel oil is that low, WHY are gas prices still so high?
Traders were probably expecting much worse.
Still dont see any relief at the pump. Like Trump did when he was 45.
I do. Prices have slide over a dollar where I'm at since Trump's election, about 55 cents of which has happened since Jan 20.
https://x.com/DC_Draino/status/1937217356419199028
you know what they say wait 72 hours before filling up the gas tank
Damn that literally what I called this as.
It's not over yet..