Makes sense to me, its why America which is so oil dependant is affected so much. This is why the US media and politicians care so much about this. It also keeps the issue focused on pricing instead of murdering brown people or supporting genocide.
On the supply side the US isn’t much affected, it can supply it’s own, the US producers have sensibly been taking the opportunity to sell into the global market to get better prices, which is to be expected.
Prices for US consumers are low comparatively. Many countries have low or zero production are dependent and have been lax about moving off, no matter a supply shock every few years having thier political leaders run around like headless chickens. My country, Australia, is one of them.
Ethiopia banned the sale of new ICE vehicles a couple years ago for example.
No America isnt so affected cause we are taking something like 49% of what Venezuela produces and not paying for it.
On top of local production from fracking.
The rest of the world and especially Asia has been hurt by their local production point being closed and their are other materials as well that aren’t moving.
People just dont know what they dont know and there is so much noise out there its practically impossible to have a real scope of it all.
Makes sense to me, its why America which is so oil dependant is affected so much. This is why the US media and politicians care so much about this. It also keeps the issue focused on pricing instead of murdering brown people or supporting genocide.
On the supply side the US isn’t much affected, it can supply it’s own, the US producers have sensibly been taking the opportunity to sell into the global market to get better prices, which is to be expected.
Prices for US consumers are low comparatively. Many countries have low or zero production are dependent and have been lax about moving off, no matter a supply shock every few years having thier political leaders run around like headless chickens. My country, Australia, is one of them.
Ethiopia banned the sale of new ICE vehicles a couple years ago for example.
No America isnt so affected cause we are taking something like 49% of what Venezuela produces and not paying for it.
On top of local production from fracking.
The rest of the world and especially Asia has been hurt by their local production point being closed and their are other materials as well that aren’t moving.
People just dont know what they dont know and there is so much noise out there its practically impossible to have a real scope of it all.