Economist reveals ‘PROFOUNDEST FEAR’ over oil price concerns
Economist Stephen Moore joins ‘Varney & Co.’ to give his outlook for oil prices following President Donald Trump’s ultimatum and discusses whether the growing conflict with Iran has strengthened the U.S. economy.
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50 Comments
Is this the channel of wishful thinking and lies? How did I get here?
We’re still vulnerable-very little domestic refining capabilities.
American taxpayers are rich and they can pay for it.
Calling Stephen Moore an "economist" is ridiculous. He is a political hack.
Iran predictions are something totally different.
Americans need to understand that our refineries have the ability to process light Sweet grade oil, but choose not to because our refineries are set up to maximize the production of heavy crude. If those refinery switch over to 100% light, Sweet, then their profits will not be as high.
$139 per barrel in March 2022….call me when it reaches that price..
Trump has destroyed the planet economics thanks Trump you bone spur five-time draft Dodger
That's great we're an exporter of oil, how does that help mainstreet and people who are struggling now. You're hoping for a hypothetical sometime in the future. My wallet hurts now!
The 70s energy crisis resulted from a 6% cut in supply. Right now we are seeing a 20%. Maybe it is not time to run the 70s playbook, but we should at least open the book.
Two simple points.. there are no “drill baby drill”.. actual amount of rigs have gone down, but the existing ones have increased output by better efficiency.. secondly, the US is NOT self sufficient.. exporter of light shale but need to import heavy crude… and if the tradewar started by Trump continues, who knows where the Canadians will start exporting their crude to..
Btw.. running my EV here in EU. Filled it up today. Cost me 6 usd. Cause wind energy is cheap and price independent of oil prices.
why are you trying to hide the truth america isnt dominant country anymore besides that you even dont have weapons to defend yourself if someone tries to invade you
I wouldn't be too smug. If the rest of the world goes into recession, who's going to buy your stuff?
How fuel is purchased, 🤔🇺🇲🦅🥺
The US is not a player in the Oil market as we consume as much as we produce. We are not a major exporter, that's bullshit as is his ridiculous 'fairy tale' level thinking about the price. It will be over $150 by Friday if the president doesn't TACO tomorrow. If Iran blows up the Saudi fields/refineries we will never see sub $100 oil again.
The economy sucked for the majority of Americans before the war … and will continue to suck afterwards.
Not a news story. More dumb guesses. Lose the speculation. Gosh, 18 years oil was above today's $112. So that's deflation over 18 years and you are crying about your "fear." Buhu d-bag.
This administration is completely messed up.
By the way nobody with half a brain believes Fox.
At least it's motorcycle season so us bikers can save some money 🤙
Where do you get these experts, Bootlickers Are Us?
Calling this shameless charlatan an "economist" is worse than calling trump a "statesman"
Trump administration is ‘America Last’ administration…betrayed the working class. Epic Failure
Trump clearly does not understand that we live in a global world and that US refinities can't refine oil produced in America. 6m barrels are imported every day
As the war extends further, will the countries in need of oil have to be forced to buy oil and oil byproducts from the U.S?
Moore loves smearing lip stick on a pig. There is so much more complexity to the oil story than Moore lets on it is hard to know where to start the rebuttal. I won't even try. However, many Americans will take what he says at face value and then 6 months from now when gas and diesel are still very expensive at the pump Moore with spin a new tale downplaying the situation. Enjoy.
Pray for Nuremberg style trials.
Republicans in White House, House, and Senate and the clowns talk about policies by Democrats or policies in Europe. The propaganda machine activated the distraction mode.
“Drill, baby, drill” seems not to lower gas prices that much… might it in the end be true that the oil market is global?
The world have to thank Israel and the us for destroying the planet and killing children
Just thought I’d come over and check out American state media.
Apparently the war is good for the American economy, by making it more dominant over its allies??
The only positive about this sh××show is that maga suffers for the consequences of their actions. 🤡
Please bring in an expert not a propaganda clown. The price of oil will obviously drop someday. This is not going out on a limb. However, as we consume the oil reserves and the oil that is currently en route for delivery, the price of oil is going to go to at least $150/barrel and the price of gas is going to stay high or go up for several months.
Second, CA oil is also more expensive than other states partially due to high gas taxes.
Next, producing a large amount of oil does not decrease the cost. The cost of oil is set by the global market.
Finally, his suggestions for CA and NY are not realistic ideas but even if this was going to help in the short term, Trump and his clown cabinet would have needed to initiate them months or even years ago.
War costing $1B per day. Maybe better to spend this at home to make America Great Again?
I have faith in our POTUS.. truth be told oil prices right now are still not at his peak it was as I was growing up in the🎉 seventies during the 1979-1980 crisis.. so America whoever you are stop complaining about prices, prices,prices ,prices…
This would not be happening today if the voters stop electing the very same corrupt ,anti-American people "Democrats" into office..
How are these idiots allowed on tv 🤡🤯🤦♂️
I can't believe how brainwashed this channel is trying to turn this economic disaster into some sort of 'win'.
You want crazy, thinking we had total air superiority just before losing an 15E.
Ooh the sh*t is deep
:45 not aware? trump and his minions talk about it all the time.
oil production under biden was the highest it had ever been in history to that point.
If the United States is exporting oil.
Why dose it import so much from Canada 🇨🇦
We produce oil but we don't refine into gasoline. We rely on other markets to get our gas. I love how confident he is regarding the prices dropping in one month or six weeks. How? He makes no mention of removing the federal gas tax or making a deal with Iran. In fact, he never mentions the "military conflict" at all.
The Trump economy sucks
The rest of the world doesn't want to depend on the US for their oil. We're unreliable.
They'll switch to EVs and Solar + BESS and be done with it. It's already begun. Look at Australia EV sales month over month.
His dreaming..
Trumps arse lickers.
Lol america
Foxaganda strikes again
We need price controls and profit punishments.