Time has told. Similar situations have happened many times before, and the effects on European poverty has always been less severe than the US, for the reasons I described.
The USA is self reliant on oil
That’s not how it works at all. The oil extracted in the US doesn’t just go in a giant national pool for all Americans to use from.
It’s sold by the private companies doing the extraction and several layers of middle men before the consumer sees only indirect (if any) benefits from the (private companies of) the country being net exporting.
The US economy is more reliant on oil because those companies as well as car dependency are HUGE factors in how both the macro and the micro functions in the US.
EU is always looking for handouts
Categorically untrue.
GOOD LUCK!
You’re probably gonna need it more than me, but thanks anyway 🤷🏻
Time has told. Similar situations have happened many times before, and the effects on European poverty has always been less severe than the US, for the reasons I described.
That’s not how it works at all. The oil extracted in the US doesn’t just go in a giant national pool for all Americans to use from.
It’s sold by the private companies doing the extraction and several layers of middle men before the consumer sees only indirect (if any) benefits from the (private companies of) the country being net exporting.
The US economy is more reliant on oil because those companies as well as car dependency are HUGE factors in how both the macro and the micro functions in the US.
Categorically untrue.
You’re probably gonna need it more than me, but thanks anyway 🤷🏻