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54 sats \ 4 replies \ @siggy47 OP 12 Apr \ parent \ on: Trump says U.S. will blockade Strait of Hormuz after Iran peace talks fail Politics_And_Law

I know the simple explanation is that the U.S. is a huge oil producer and will benefit from higher prices, but the U.S. consumer will deal with even more inflation, no?

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46 sats \ 3 replies \ @Undisciplined 12 Apr

Yes, higher prices but also gains from increased economic activity in our oil sector.

Other countries don't get that increased economic activity, so it's more likely that high oil prices will push them into recessions.

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49 sats \ 2 replies \ @398ja 13 Apr

What if China retaliates with an export ban of rare earth minerals? This seems to me to be the logical next step. I mean, the rest of the world is not going to sit back and just watch their economies be driven into a recession...

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22 sats \ 0 replies \ @Undisciplined 13 Apr

Totally plausible. I’m only commenting on the dynamic wrt oil.

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1 sat \ 0 replies \ @Solomonsatoshi 13 Apr

China has already banned rare earths exports to any buyer even remotely related to US military.
Any exports currently are strictly vetted to ensure they do not have any military end use.
The ability of the US military to build new war materiel is already considerably constrained.

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