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Why the Oil Shock Probably Won’t Derail the Economy. And One Way It Might.
Tags: Current Focus, Early Warning, Managing Business, United States, Canada, Germany, Russia, European Union, China, India, Saudi Arabia, Automobiles, Oil & Gas, Renewable Energy, Capital Markets, The Economy, Travel, Inequality / Upward Mobility, Movement for Renewal of America, 2. Cost of Living Action, 5. Bringing Jobs and Factories to the US, 8. U.S. Investment by Government+ Private, 10. Health- Body/Mind Wellbeing for All ,
Oil prices and the US war with Iran -Straits of Hormuz how much of it remains open, European supplies, and drop in production in Gulf region, how these risks are managed will have an impact on inflation. Inflation could end up at 2.9% instead of 2% says Greg Ip. Gep Ip does not take into acocunt new flexible oil policy under which India gets a waiver to buy oil supplies from Russia, China sources more of its supplies from Russia to make up for the supplies lost from the Middle East. Russia steps in for a temporary period to keep oil prices lower. US ramps up Venezuelan and its own oil production to meet the needs of other countries such as Japan and S. Korea, Indonesia, Vietnam, and Europe. Conservation measures are enacted to reduce oil use for the same level of GDP as taken in Japan and Germany.
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