American Economics Thread

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GodRektsNoobs

Junior Member
Registered Member
hhuang41 said:
Saudi Arabia has limited leverage when its entire existence is dependent on the United States

The US doesn't need to satisfy global demand. It can ban oil exports as it historically has done and spike domestic production in the United States. In fact, making the US a cheap oasis of energy while the rest of the world has expensive oil makes the US a far more competitive place to do business
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Yes, and you think that would never change? Once upon a time, US had limited leverage and its entire existence was dependent on Britain. It's funny how arguments defending US in 2022 assume status quo is perpetual.

As for your second point. I'll believe you when US shale gas becomes cheaper than Russian pipe gas. In fact, US attempt to put a price gap on Russia gas actually will work further against your assumption, assuming it actually works.
 
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hhuang41

New Member
Registered Member
GodRektsNoobs said:
Yes, and you think that would never change? Once upon a time, US had limited leverage and its entire existence was dependent on Britain. It's funny how arguments defending US in 2022 assume status quo is perpetual.
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Changing the status quo takes time and that timeline is measured in decades.
GodRektsNoobs said:
In fact, US attempt to put a price gap on Russia gas actually will work further against your assumption, assuming it actually works.
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The price cap is indeed working at reducing Russian fiscal capacity to sponsor its war in Ukraine. Even for countries that don't have a price cap, they have greater pricing power vis-a-vis Russia in negogiations. The United States has created an effective monopsony over Russian gas with the price cap, microeconomics works the same in any country in the world.

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Nutrient

Junior Member
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Yes, I realize this guy spews tons of vomit, just like Sleepy. I am also mindful of @siegecrossbow's advice to not respond to this troll. But I think his latest point is interesting, though probably not in the way he thinks.


hhuang41 said:
"In 2021, the United States exported about 8.63 million b/d of petroleum to 176 countries and 4 U.S. territories. Crude oil exports of about 2.98 million b/d accounted for 35% of total U.S. gross petroleum exports in 2021. The resulting total net petroleum imports (imports minus exports) were about -0.16 million b/d in 2021, which means that the United States was a net petroleum exporter of 0.16 million b/d in 2021."
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Oddly,
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he linked to is completely contradicted by
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.

The latter page has a table of historical data from January 1920 to June 2021. According to this table, US oil exports never exceeded 3.414 million barrels per day for any month of 2021 (presumably averaged over that month).

So the US's EIA (its Energy Information Administration) is lying somewhere. The Americans can't even get their lies straight. Why am I not surprised?
 
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