The United States is the biggest producer of oil (and I assume natural gas is also up there). Supposedly we even export some because we produce a surplus. Shouldn't higher oil prices stimulate our economy? Assuming the oil companies are taxed even if we don't export anything shouldn't we get a tax boost?
Also shouldn't Canada, Mexico and some South American countries should also see increases in revenue? They are in prime location to ship to countries desperate for it (European and Asian countries).
I also hear we might be collecting some of Venezuela's oil, and if not, couldn't that country use the profits to rebuild their oil industry?
Shouldn't the Iran war help the American economies?
byu/ilikemyprivacytbt inAskEconomics
Posted by ilikemyprivacytbt