silence7@slrpnk.net to politics @lemmy.worldEnglish · 7 days agoTrump’s Inflation Fix Centers on Energy Emergency That Doesn’t Exist | Economists and analysts aren’t convinced that an expansion of oil and gas production will lower consumer prices.www.nytimes.comexternal-linkmessage-square12fedilinkarrow-up1100arrow-down11cross-posted to: [email protected][email protected]
arrow-up199arrow-down1external-linkTrump’s Inflation Fix Centers on Energy Emergency That Doesn’t Exist | Economists and analysts aren’t convinced that an expansion of oil and gas production will lower consumer prices.www.nytimes.comsilence7@slrpnk.net to politics @lemmy.worldEnglish · 7 days agomessage-square12fedilinkcross-posted to: [email protected][email protected]
minus-squareNougat@fedia.iolinkfedilinkarrow-up13·7 days agoI know that expanding oil production doesn’t do anything, because it takes so long to ramp up extracting the oil from the ground, and then more time to refine it. By the time it’s in a form that’s ready to sell, it’s been years.
minus-squareRentlar@lemmy.calinkfedilinkarrow-up8·7 days agoOn the other hand, tariffs on Canadian products will work have a quick effect on oil and the US economy. Except in the wrong direction.
minus-squareBakkodalinkfedilinkEnglisharrow-up3·7 days agoIt’s a land grab in the form of a subsidy to oil and gas in the form of “inflation reduction”
I know that expanding oil production doesn’t do anything, because it takes so long to ramp up extracting the oil from the ground, and then more time to refine it. By the time it’s in a form that’s ready to sell, it’s been years.
On the other hand, tariffs on Canadian products will work have a quick effect on oil and the US economy. Except in the wrong direction.
It’s a land grab in the form of a subsidy to oil and gas in the form of “inflation reduction”