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sdholloway56
Senior Advisor

"Energy" in the China trade surrender

larger than "agriculture", reportedly. Not surprising since fossil fuel the major source of RW cash and the entire political infrastructure.

Might be a little benefit to selling some value added products like petrochemicals.

Beyond that, the US is, at best, somewhat balanced in terms of imports and exports of oil/products. It is a global market so there's no broad benefit to the US- we sell more of this, we'll buy more of that.

Some hope that it will bail out the desperate natural gas sector with LNG exports. At 3X the cost of Russian pipeline gas I'm skeptical how much of that is going to happen. And anyway, the American consumer is benefiting from the gross miscalculation and malinvestment of that sector, so why bail them out?

2 Replies
Samthehumble
Senior Contributor

Re: "Energy" in the China trade surrender

"It is a global market"

 

Which is why all the panic about China not buying Ag products from the US was always misplaced.

sdholloway56
Senior Advisor

Re: "Energy" in the China trade surrender

And why the Stormy payoffs were likely excessive relative to actual damages.

"Agriculture" should be afraid that the other 99.5% will figure that out, but as with other full bore lobbies, pride goes before the fall.

At any rate spending $B's of borrowed money to hold a tiny slice of the vote, at best, is not very efficient.