WTF.... wrote:
Been A Fit wrote:
You think that a big price hike in oil will result in better US economic performance? WTF?
The poster is correct. Were you born yesterday?
All Trump needs is a short time boost. A bump in oil markets bombs prices for a lot of American made products.
it's complicated. Some industries are helped by a rise in the price of oil, others are hurt.
remember that the US is the world's largest oil producer. When the price of oil goes up, we get a lot of money. Sort of, since we are paying it to ourselves.
US industry is massively less needy of oil than in the 70s. We have become far, far more efficient. So oil price shocks are less impactful than they used to be.
That's why stocks did nothing today despite a 10% jump in the price of oil. Oil just isn't that relevant anymore.