r/lebanon • u/zoratosthenes • 9h ago

Politics Israel has suspended bombing of Beirut following threats from Iran and a phone call between Netanyahu and Trump, Per Israeli Kann

29 Upvotes

74% Upvoted

34 comments sorted by

View all comments

7

u/Bazishere 9h ago

Well, the longer this drags on, the more the oil reserves in the US drain.

5

u/anonu 7h ago

US is energy independent. It doesn't need to dip into reserves

2

u/Bazishere 2h ago

This is incorrect, a myth. The US imports about 17-20% oil. It doesn't have all the refineries necessary to process all the oil it produces and exports that, as well. Trump has made it seem the US is energy independent, but it is not. More than other countries and a lot more than the past, but 17-20% is significant.

1

u/ILikeSaintJoseph Lebanese Diaspora 7h ago

No. The price of everything will go up but the USA produces enough oil for itself easily

1

u/Bazishere 2h ago

Not true as someone who studies the energy sector. The US, in fact, has to export some of its oil partially because it doesn't have all the refineries needed to process certain types of oil. It imports 17-20% of its oil needs. That might not sound significant, but it is, it is. Also, oil is a commodity. It's not like the US oil companies and Canadians will massively shield consumers from major oil prices. They should be able to handle things better than 1973, but it can get bad experts say even in the US.