I.e., plan to walk on your next vacation. If you can share a ride to work, it'll cost you the same as before.
“John Kilduff, energy risk analyst Fimat USA, agreed that the $105 price assumes a major supply disruption in Saudi Arabia or a Venezuelan embargo on shipments to the U.S.”
What a bunch of BULL$#!T…
Someone should tell Fimat USA that the price of oil is dictated by the global market. Unless Saudi Arabia or Venezuela quits producing oil, stopping shipments to the U.S. will have no effect on the global price. I don’t think either country can do without oil revenue.
If Saudi Arabia decided it wouldn’t ship oil to the U.S. and instead would only supply oil to France, then France’s old suppliers would ship the oil to the U.S…. IT’S A GLOBAL MARKET!
There would have to be a worldwide conspiracy against the U.S. to deny us of foreign oil. And we would fight like a junkyard dog to put a quit end to a global embargo against our people.
Holtz
JeffersonRepublic.com