• 0 Posts
  • 5 Comments
Joined 2 years ago
cake
Cake day: March 4th, 2025

help-circle

  • if Trump were to ban the export of oil regardless, then oil prices would rise significantly

    How come? My guess would be if the US producers of oil can’t sell abroad, they’d have to sell domestically, which would increase the supply, which would drive down the price (basic supply and demand).

    Oil prices are set globally, which is why if the UK for instance opened a new oil field it wouldn’t lower prices in the UK (Despite what right wing press are saying regarding Rosebank and Jackdaw), but if you’re cut off from the global markets, won’t it have an impact?