I’ll note that the US is a net exporter of oil and of methane gas.

Since Americans can’t actually burn the additional extraction, this means more exports, and profits for the owners, rather than some kind of public benefit. So Americans reap all the consequent climate damage, but somebody else gets all the benefit.

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  • TRBoom@lemm.ee
    12·
    2 days ago

    Small disagreement: since oil and gas are a global market, increasing supply will cause the prices to go down globally.

    This is a political move of course. Trump can point to low gas prices and say that he did that for everybody. The lower prices will also make gas guzzlers more economically viable; further pushing the public away from using better systems of transportation.

    So it’s actually worse than you would think.

    • spidermanchild@sh.itjust.works
      2·
      2 days ago

      Gas is not a simple global market like oil is and there isn’t a single methane price everyone pays. That would require significantly more LNG terminals around the world and policy changes. This is precisely why gas companies want to build more LNG terminals - this would increase volume while raising domestic prices (and likely lowering foreign prices). It’s not a simple econ 101 global free market though.