If the goal was to hurt China / BRICS and kneecap Iran it seems on point.
It's always hard to predict how the USA will vote when "war" is happening.
While also hurting Europe, South Korea, Japan, the Philippines, and many more. Very on point...
It will hurt everyone, Americans included, oil is a global market, fertilisers are a global market, those are basic inputs for probably every single thing produced in the world.
So now all of us around the globe have to pay the price for American Imperialism, compounded by the complete shattering of the USA's soft power as an ally, this will only create more animosity against the USA from all sides. Very on point.
But the USA oil industry can make a buck until everything buckles, or perhaps the USA admin will introduce price controls like in the 1970s, that worked very well too.
Only because those countries choose for that to be the case. For example, Saudi Arabia and Russia don't do that. Local prices and export prices are different.
But the US, Canada, the Netherlands, and long list of other countries could make this crisis have zero effect on local prices. They choose to take every excuse to raise prices (in fact the Netherlands goes further: if sales tax on gas raises because prices raise, the amount of tax paid is kept constant if prices drop. So they artificially raise local gas prices. So if gas prices are low, tax on gas has at one point reached 72%), but it is fundamentally a government choice.
The US Government cannot force US companies to sell at a lower domestic price if they can get a higher price exporting. I know that God-Emperor Trump pretends that he can command the oil sector to make less money, but he can't.
>For example, Saudi Arabia and Russia don't do that
2 countries famous for being beacons of free-market capitalism.
That's not a mechanism that anyone is proposing. The US government can, however, apply an export tariff that's used to subsidize local prices.
USA, Europe, and many other countries depend on China for manufacturing. I doubt that this is going to solve inflation.
But it will fill the pockets of a few people in oil rich countries that can still export.
And it will go higher now. And given the President's hatered for high interest rates and the next fed chairman being a garden-variety lick-spittle, things are not looking up.
This 'Venezuelan oil' is a pipe dream for the moment. It will take a significant amount of years to get anywhere near completed.
I think this has been the crux of many allegations against China. They don't operate fairly in global markets.
You are mistaken to assume there was a goal. Trump has admitted he did this because he was told that Iran were about to attack the U.S. not because of any strategic goal.
https://m.youtube.com/watch?v=GaazFYTrQ_A&pp=ygUYaXQncyBjb21...