Trump says he bombed Iran

[SomeStupidName]

That's a shallow read of both economics and geopolitics.

"Basic supply and demand" ignores how wars disrupt supply chains.

And how they create uncertainty, never mind invite speculation.

All of which raises prices regardless of competition.

And the Oil markets aren't a free playground.

Cartels like OPEC actively manage the supply.

Modern markets are globally interconnected, it's not like 1900s America ffs.

As for "everyone for themselves," that's not realism, it's ignorance in the real world....

Global stability and cooperation exist precisely because isolation makes crises worse, not better.

Fuck OPEC, We aren't dependent on them. Just another thing like NATO we need to drop out of.

[andy06shake]

Fuck OPEC, We aren't dependent on them. Just another thing like NATO we need to drop out of.

That's bravado, not reality.

OPEC influences global oil prices whether you like it or not.

And like i suggest, the markets are interconnected.

Whether or not you choose to accept that fact or otherwise.

And NATO underpins our collective freedoms and security.

You don't opt out of global systems without consequences.

You do, however, lose influence over them if you choose to act like a petulant child.

[Kurokage]

No thanks, I got this. We can create our own markets if we choose.

Wrong again my friend or are perhaps you're more communist than you make out??  

It's a global 'capitalist' market and so nothing you can do about it but except that prices are going to continue to rise whilst the Straits are blocked.  Also, America does import oil and the prices are driven by a global market.

 The United States imports approximately 8.1 to 8.8 million barrels of crude oil per day. In 2022, the U.S. imported about 6.28 million barrels of crude oil, with Canada being the largest supplier, supplying roughly 4.7 million barrels per day. The U.S. also imports nearly 7.5 million barrels of crude oil per day from non-OPEC nations, primarily from Canada and Saudi Arabia.

[cherokeetroy]

[Image: https://denyignorance.com/uploader/images/gflaugh.GIF]

Just like we had to deal with bullshit from liberals and Democrats under Biden's lunatic pandemic policies

Now we're dealing with the lunatic bullshit of MAGA which is leading us to economic turmoil

What true Americans need to do from this point forward is dump both established political parties

Republicans and Democrats are both toxic

You both suck

[SomeStupidName]

That's bravado, not reality.

OPEC influences global oil prices whether you like it or not.

And like i suggest, the markets are interconnected.

Whether or not you choose to accept that fact or otherwise.

And NATO underpins our collective freedoms and security.

You don't opt out of global systems without consequences.

You do, however, lose influence over them if you choose to act like a petulant child.

And if OPEC sells oil at 120 a barrel and we say we'll sell it at 80 a barrel who are going to buy from?

[andy06shake]

And if OPEC sells oil at 120 a barrel and we say we'll sell it at 80 a barrel who are going to buy from?

That's not how it works.

OPEC output shapes global prices.

That's just a fact you will have to accept.

And undercutting isn't sustainable if your costs are higher.

Go and read how these b@stards operate, please.

Do yourself a favour...

Because that is pure fantasy.

Kind of like your wanting a nuclear war to happen wet dream.

[Kurokage]

And if OPEC sells oil at 120 a barrel and we say we'll sell it at 80 a barrel who are going to buy from?

I think you're not understanding what type of oil America produces which is why they have to also import it...

https://afpm.org/newsroom/blog/how-much-...rt-and-why

About 60% of the crude oil that runs through U.S. refineries is extracted right here at home. However, our refineries run on many different types of crude oil, some of which we don’t produce here or can’t economically transport. In those cases, we use imports. Nearly 70% of our crude oil imports come from Canada (60%) and Mexico (7%). Using the right types of crude oil keeps our refineries efficient, keeps costs down and maintains energy security....

 

• Many refineries need heavier crude oil to maximize flexibility of gasoline, diesel and jet fuel production. Today, most crude oil produced in the United States is light, including much of what’s produced in the Permian and Bakken. Light crudes are not good replacements for the heavy crude oil we get from Canada and Mexico.
  

[SomeStupidName]

Wrong again my friend or are perhaps you're more communist than you make out??  

It's a global 'capitalist' market and so nothing you can do about it but except that prices are going to continue to rise whilst the Straits are blocked.  Also, America does import oil and the prices are driven by a global market.

7% of our oil is imported through the straight we can live without it.
The thing about capitalism is it can spring up anywhere, If we simply open an oil market directly outside of OPEC and under cut the current market they will have to either complete or collapse, it's their call.

We can build refineries, we have tools and resources and workers.

[andy06shake]

I think you're not understanding what type of oil America produces which is why they have to also import it...

https://afpm.org/newsroom/blog/how-much-...rt-and-why

It makes Venezuela make more sence...

[Kurokage]

https://www.mirror.co.uk/news/world-news...n-36980914
 

Russia and China BLOCK reopening of Strait of Hormuz in dramatic UN vote.
 
Russia and China have blocked a UN Security Council resolution aimed at reopening the Strait of Hormuz - just hours before US President Donald Trump's deadline for Iran to reopen the vital shipping route.
The Bahrain-sponsored resolution failed after receiving 11 votes in favour, with two abstentions and two votes against by Russia and China. Both countries hold veto power on the council.
The vote took place ahead of the Tuesday 8pm ET (1am BST Wednesday) deadline set by Trump for Iran to reopen the strait or face attacks on its power plants and bridges. He warned on Tuesday that a "whole civilisation will die tonight" if Tehran does not comply.

The proposal had been repeatedly watered down in the hope that Russia and China would abstain. An initial draft would have authorised countries to use "all necessary means" - UN wording that can include military action - to ensure transit through the strait and deter attempts to close it.
 After Russia, China and France, all veto-wielding countries on the 15-member Security Council, expressed opposition to approving the use of force, the resolution was revised to remove references to offensive action. It instead authorised only "all defensive means necessary".
A vote had initially been expected on Saturday, but the resolution was further weakened to eliminate any reference to Security Council authorisation - effectively an order for action - and to limit its provisions to the Strait of Hormuz.
The resolution vetoed on Tuesday "strongly encourages states interested in the use of commercial maritime routes in the Strait of Hormuz to coordinate efforts, defensive in nature, commensurate with the circumstances, to contribute to ensuring the safety and security of navigation across the Strait of Hormuz".