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What if Trump stopped the export of US Domestic Oil
Posted on 4/5/26 at 3:13 pm
Posted on 4/5/26 at 3:13 pm
Left the Strait of Hormuz for Europe and Asia to figure out. What sort of economic and political fallout would be expected?
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Posted on 4/5/26 at 3:15 pm to Marquesa
Why would we stop exporting?
That is like saying "eh, we don't need that money"
That is like saying "eh, we don't need that money"
Posted on 4/5/26 at 3:16 pm to Marquesa
quote:It would snatch defeat from the jaws of victory. It is a hypothetical that makes no sense.
What if Trump stopped the export of US Domestic Oil
Posted on 4/5/26 at 3:18 pm to NC_Tigah
It would shield domestic fuel prices from the global shock being caused by the straits being closed, potentially force action from Great Britain, EU, Japan and China to open up the straits Just some possibilities. Totally not free market, but a reasonable theoritical discussion
Posted on 4/5/26 at 3:19 pm to Marquesa
Horrible idea. If we stopped exporting oil the global economy would tank and its hard to see how it could rebound. Every country has much more debt than they did 20 years ago. It would be a very long and painful recession
This post was edited on 4/5/26 at 3:20 pm
Posted on 4/5/26 at 3:21 pm to Marquesa
quote:
It would shield domestic fuel prices from the global shock being caused by the straits being closed,
It wouldn’t… doesn’t work like that… it’s also quasi-nationalizing the oil industry, no??
Posted on 4/5/26 at 3:24 pm to lepdagod
I know Bergen and Wright met with the oil companies a few weeks ago and it was decided that is was a bad idea. I don’t remember the explanation but was basically said that it would actually cause prices to rise.
Posted on 4/5/26 at 3:25 pm to Marquesa
quote:
What if Trump stopped the export of US Domestic Oil
You mean tell private companies that they are no longer allowed to sell domestically produced oil outside of the United States?
Like a state controlled oil industry?
This post was edited on 4/5/26 at 3:26 pm
Posted on 4/5/26 at 3:25 pm to Marquesa
quote:It would, if we were in a position to refine the oil that we would be exporting. The U.S. imports oil despite high production primarily due to refinery configuration, geographic logistics, and economic efficiency. We are more suited to refining oil from Alberta than we are WTI in amounts, that would make us self-sufficient on US products.
It would shield domestic fuel prices from the global shock
Posted on 4/5/26 at 3:25 pm to Marquesa
There would definitely be fallout and the US would suffer, but we'd fare much better than the rest of the world.
Posted on 4/5/26 at 3:27 pm to Marquesa
quote:
Left the Strait of Hormuz for Europe and Asia to figure out. What sort of economic and political fallout would be expected?
Why piss away that extra wealth being imported into America?
Posted on 4/5/26 at 3:29 pm to Marquesa
We have to import because 70% of our refineries only refine heavy crude
We produce mainly light sweet crude and export much of it
We produce mainly light sweet crude and export much of it
This post was edited on 4/5/26 at 3:31 pm
Posted on 4/5/26 at 3:30 pm to mule74
quote:
You mean tell private companies that they are no longer allowed to sell domestically produced oil outside of the United States? Like a state controlled oil industry?
The government already controls the production from federal lands. Not saying it’s a good or bad idea, but it can be fine if we really need it to be.
Though we shouldn’t be beholden to the international market when we the people own the oil that is being pulled. We should be taking care of our needs first, and then export the excess.
Posted on 4/5/26 at 3:34 pm to Marquesa
Seem to me that would be pure nazi, socialism and very UN maga
This country does not own the oil industry. It allows private industry to explore, drill and process natural resources including oil. That is one aspect of this country that makes it great. It’s a heavily regulated industry but despite that, we are the most productive nation on earth in the production of oil.
The government taking control over where it can be sold is one step closer to full takeover of the industry.
This country does not own the oil industry. It allows private industry to explore, drill and process natural resources including oil. That is one aspect of this country that makes it great. It’s a heavily regulated industry but despite that, we are the most productive nation on earth in the production of oil.
The government taking control over where it can be sold is one step closer to full takeover of the industry.
Posted on 4/5/26 at 3:39 pm to rstamp1
quote:
I don’t remember the explanation but was basically said that it would actually cause prices to rise.
Of course prices would rise… the reason it’s sent elsewhere now because other countries willing to pay more than Americans for it… businesses operate on profit not the national interest … also we years away from being able to refine domestic oil
This post was edited on 4/5/26 at 3:44 pm
Posted on 4/5/26 at 3:46 pm to Marquesa
Should’ve filled the SPR when it was $50. Especially knowing Iran was about to hit the fan.
Posted on 4/5/26 at 4:31 pm to Marquesa
price of gasoline would drop 50 %
Posted on 4/5/26 at 4:52 pm to Marquesa
Because while we produce more oil than we need, we don't produce every type of oil we need.
Posted on 4/5/26 at 5:11 pm to Marquesa
quote:
It would shield domestic fuel prices from the global shock being caused by the straits being closed, potentially force action from Great Britain, EU, Japan and China to open up the straits Just some possibilities. Totally not free market, but a reasonable theoritical discussion
You don't understand the situation at all. Despite being a global commodity, all crude oil is not fungible.* We have to import over 6 million barrels per day because most of our refineries are not set up to refine our light sweet crude into gas/diesel/jet.
What you suggest doing would be a huge mistake and everyone that knows anything about the world oil market knows it.
* crude oil is not a single commodity
Posted on 4/5/26 at 5:45 pm to Marquesa
quote:
What if Trump stopped the export of US Domestic Oil
Are schools really this bad?
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