My understanding is the following:
Amount of U.S. oil consumption that comes from the Middle East: only three percent from Iraq and Kuwait. The rest of our imported oil comes from places like Canada, Venezuela, Mexico, Nigeria, Algeria, Ecuador, and England.
venezuela is an enemy. Not sure about the others. I know that iran and others in the ME benefit from high oil prices, but my understanding is that we are not buying a lot of oil from our enemies in the middle east.
Thank you. That is technically correct. However, as you suggest, the high cost of crude lifts all boats, so to speak.
We should immediately strengthen the dollar including ratcheting up the interest rates. Then we should drill all over the country and drive the price of oil back into the ground. Yet, no one really wants to do anything other than throw up their hands and say, “nothing can be done, blame the evil oil companies”.