Re:Iran Loses Its Indispensable Man
by dennnis on Friday January 03, 2020 @04:41PM
(#21950678)
The US produces more oil
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It's a world market. US as a producer sells oil both domestically and abroad. US as a consumer consumes both domestic oil and foreign oil. In 2018, it worked out to about 9.9 million barrels/day of foreign oil being imported, and 7.6 million barrels/day of US oil being exported.
If something disrupts production of some major world exporter X, causing the world market price to rise or causing shortages on the world market, US domestically sees that too.
Re:Iran Loses Its Indispensable Man
by hackeraccount on Saturday January 04, 2020 @10:23AM
(#21955321)
So does Iran - if the price of oil goes up they pay more domestically as well. As it happens they subsidize the price of energy internally but that brings more problems then it solves.