Trump in wake of Iran attack: ‘Everyone, keep oil prices down’
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You've got that backwards. US consumes the heavy stuff because it is cheap and they have the ability to refine it. They sell the light stuff to places that do not have the refining capacity to refine the heavy stuff.
For the crude certainly but I was thinking about end products, being as our cars are mostly gassers and our home heating is pretty much entirely methane, electric of course being the exception but I don't think I've ever seen an oil burner outside of the context of kitchens and mechanic's shops.
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“To The Department of Energy: DRILL, BABY, DRILL!!! And I mean NOW!!!” he added on Truth Social.
Fun fact #1: The department of energy does not control oil drilling. Sorry Donald, they can't unilaterally make it happen.
Fun fact #2: Not all oil is equal. Refineries are designed to process certain grades of oil into specific products, and different parts of the world have different grades. Refineries also often blend oils from different parts of the world to get the characteristics they need for their process.
Fun fact #3: Moving domestic petroleum products between the west coast and the rest of the US is an expensive pain in the ass. There is a distinct lack of pipelines, so you need to ship it through the Panama canal. But shipping is expensive thanks to the Jones Act. So California, Oregon, and Washington would get particularly screwed in a domestic-only oil market.
"Drill, baby, drill!" has always been an immensely stupid rallying cry, even if you don't care about the environment.
“Drill, baby, drill!”
So, trepannings for everyone?
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He really does think the whole world is just like ordering a Big Mac.
Honestly I am surprised at how much it has worked so far. He told companies not to raise prices in the face of tariff inflation and so far they largely have. It's stupid and under classical economic theories will have unintended consequences such as causing shortages but in the short term it's been working which really sucks for those of us who have been warning about consequences that have largely not happened.
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“Drill, baby, drill!”
So, trepannings for everyone?
No, the DRILL BABY is like Santa Claus for the oil industry. Every year he flies through the world on a magical Halliburton frac truck, delivering new 75-foot yachts to oil executives. He uses his magic DRILL to weaken the spine of legislators in every country.
It’s a rich people holiday, not very well known.
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Does he think Truth Social is an official channel of communicating orders?
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Does he think Truth Social is an official channel of communicating orders?
He really really does.
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Rape clown says what?
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Does he think Truth Social is an official channel of communicating orders?
He doesn't think.
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EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!
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He doesn't think.
This is the correct answer
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Honestly I am surprised at how much it has worked so far. He told companies not to raise prices in the face of tariff inflation and so far they largely have. It's stupid and under classical economic theories will have unintended consequences such as causing shortages but in the short term it's been working which really sucks for those of us who have been warning about consequences that have largely not happened.
That's actually a shockingly good point.
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Filed under "You should have gone before we left the house."
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Rape clown says what?
What?
...dang
