Now that we’re a major oil producer $75 a barrel may not turn out to be so great for our economy.
Is fracking cost effective at 75?
Oil can be $150 bbl if it wants, as long as gas is $2 gal.
“Now that we’re a major oil producer $75 a barrel may not turn out to be so great for our economy.”
Frak that.
$75/Barrel oil bankrupts the Mullahs in Iran and their Chavista allies in Venezuela.
Plus puts a big hurt on the Russian Empire and their ability to threaten their neighbors and Western peoples.
That trumps what happens to Dakota and Texas oil men.
The greatest argument for $75 oil would not be to produce it in such volume as to drive down the price, but to make the value of the dollar so strong that the dollar actually revaluates. The number of dollars is made more scarce, meaning each dollar is that much more valuable, and consequently buys that much more in commodities.
A concept that frightens the Keynesians who pretend to understand how money works, and makes hash of all their theories about pump priming and “floating” currency.
Here comes the mileage tax.