Dan Caplinger
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Appearances Over Time
Podcast Appearances
Dan's talking about how insulated we are.
We are a net exporter, but that can be deceiving because that is refined products, too.
We export a lot of petroleum.
We still import crude.
So we are actually still very dependent on the world for crude.
We're not energy independent.
Fortunately, less than 10% of that comes through the Gulf.
So again, the Saudi oil doesn't really mean, what's going on in Australia, our news isn't too important for us.
That's a global story.
But we still do need this idea that, well, since we have energy, we can just stop exports and shut it down and let the rest of the world have a problem.
That really doesn't work.
work.
Where does this leave us with the economy?
Should we be watching it?
Yes, absolutely.
Does it lead to a recession?
I hate to answer this way, but the answer is maybe.
It's definitely a headwind.
We definitely have headwinds already.
Seems like the U.S.