Ep. 129: Gasoline Prices Should Rise, Even If US Is Oil Self-Sufficient
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Ep. 129: Gasoline Prices Should Rise, Even If US Is Oil Self-Sufficient
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A popular objection on social media states that the US only gets 2% of its crude oil via the Persian Gulf, and so therefore the conflict in Iran shouldn't affect prices at the pump for Americans. Murphy explains the various problems with this argument.
Related:
- https://www.econlib.org/library/Columns/y2008/Murphyoil.html
- https://mises.org/mises-daily/social-function-call-and-put-options
- https://journal.apee.org/ARTICLES_2018_Journal_of_Private_Enterprise_Vol_33_No_1_Spring_parte5
Watch the video version of this episode here: https://youtu.be/hIW7wCR4pfU
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