Instead of buying oil from the Mideast the world is buying it from America. Those profits are going to increase our capacity to produce more oil. It will also get the Venezuela oil brought to market as well . When this conflict finally ends the price will go way down because of all the extra production in the West those profits have made possible. Be of good cheer your gas money is not helping the enemy now but helping American oil producers instead .
“Instead of buying oil from the Mideast the world is buying it from America.”
I own energy stocks and I’m thriving. More rigs are going online. Do you think that the average schmoe cares about that versus the reality of his gas at the pump going from $2.98 to $4.47 a gallon?
Not to mention that the inflationary stress is killing bond prices. Today the 10-year Treasury hit 5.12%, its highest yield in 19 years. Think of the hundreds of billions that Americans owe on credit cards and other variable rate loans