alt Hacker NewsHow? Being a net exporter implies we make more than we use. Great. How do we force companies to not export until domestic demand is met? And how do we ensure that doesn't raise prices more than just running the system as-is?
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adrianN • yesterday at 4:21 PM
Self sufficiency generally comes at a cost. The whole promise of globalization is that it makes things cheaper.
If foreign supply is cut, we (assuming the US) can still do fine, even though is a sub-optimal way. The US crude is heavy, the Middle Eastern crude is light, so oil processing would need to adapt, the efficiency would go down, and prices would go up. But we'd still be up and running independenty.
If foreign oil supply were cut from China or India, they'd be in a much bigger trouble.