It seems to be a lame argument saying somehow high energy prices no longer affect US consumers.
Nonsense. And it grossly simplifies trade flows of refined products and crude flow in and out of the USA.
Nonsense. And it grossly simplifies trade flows of refined products and crude flow in and out of the USA.
From the article:
Now, after the shale gas revolution of the last 15 years, the impact is more subtle. Higher fuel prices disadvantage consumers and energy-intensive industries, yes. But there is a counteracting surge in incomes for domestic energy producers and their workers.
Energy is the fundamental underpinning of modern society. Today a large part of that energy comes from oil, but not really for much longer.
So maybe better late than never?
>Higher fuel prices disadvantage consumers and energy-intensive industries, yes.