This isn’t about oil, it’s about currency. Our number one export is dollars. Should that end, exporting oil won’t solve solve the new problems that will be arising.
Don’t get me wrong. I don’t think for one minute we are going to get things back on track. I fully expect a total economic collapse in the next 2-5 years and maybe grid failure or some other type of cyber attack. Its all bad and getting worse. The dollar will most likely collapse. three more years of Obalynski and we will be “in the chit” as Gordon Ramsey loves to say.
This isn’t about oil, it’s about currency. Our number one export is dollars. Should that end, exporting oil won’t solve solve the new problems that will be arising.
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Yes but in five years when the USA is producing 5 million barrels@ day more oils/natural gas/gas condensates/ the US balance of payments will go positive. So the USA will no longer be exporting dollars.
Further, if you’re watching the federal deficit is falling fast. If the rate continues—the federal deficit will be almost nothing in 3-5 years.
With the USA becoming an export driven economy with no federal deficits—the dollar will go up wildly.
You’re not seeing what’s happening.
The big question none seem to have an answer for is, if the US Dollar is no longer the petro currency, which currency will be the replacement.
China has tried this, but no country in their right mind trusts the ChiComs.
Until a viable replacement comes along the dollar will remain. I think the world is smart enough to know that nobama has only a few years remaining and as they watch the wheels come off the liberal’s agenda, the world also knows nobama’s ability to wreck much more is rapidly becoming unsupported by even his previous backers.