Happy to be a paid subscriber Steve. Keep up the thoughtful analysis.
One question I have about Oil Prices. We are energy independent are we not. Yes we import oil but 80% of that is from Canada (~70%) and Mexico (~10%). So if as a North American block we can meet our vast energy needs why are we subjected to a global energy price?
We don’t need middle eastern oil and we hardly import at all from the Middle East (ie Saudi).
If Trump really means “America First” then let’s just have a North American oil price which will be lower, less volatile and we can decouple from all the middle eastern drama. Let China worry about the Straits of Hormuz and Iran, who sell all their oil to China.
Fun Fact: last year China and Iran completed a rail line which can ship Iranian oil to China through Central Asia and avoid the Straits altogether.
The people who love global oil prices are US producers who are cheering middle eastern tensions because it raises the price of oil pumped in Texas and the Dakotas when the price shouldn’t move at all.
In the same vein we shouldn’t be selling our natural gas abroad. Rather it should be replacing coal and lowering prices.
Happy to be a paid subscriber Steve. Keep up the thoughtful analysis.
One question I have about Oil Prices. We are energy independent are we not. Yes we import oil but 80% of that is from Canada (~70%) and Mexico (~10%). So if as a North American block we can meet our vast energy needs why are we subjected to a global energy price?
We don’t need middle eastern oil and we hardly import at all from the Middle East (ie Saudi).
If Trump really means “America First” then let’s just have a North American oil price which will be lower, less volatile and we can decouple from all the middle eastern drama. Let China worry about the Straits of Hormuz and Iran, who sell all their oil to China.
Fun Fact: last year China and Iran completed a rail line which can ship Iranian oil to China through Central Asia and avoid the Straits altogether.
The people who love global oil prices are US producers who are cheering middle eastern tensions because it raises the price of oil pumped in Texas and the Dakotas when the price shouldn’t move at all.
In the same vein we shouldn’t be selling our natural gas abroad. Rather it should be replacing coal and lowering prices.
“America First”? Not in energy.