Ep. 129: Gasoline Prices Should Rise, Even If US Is Oil Self-Sufficient

About this episode

The episode discusses the misconception that US oil self-sufficiency negates the impact of conflicts in the Persian Gulf on gasoline prices.

A popular objection on social media states that the US only gets 2% of its crude oil via the Persian Gulf, and so therefore the conflict in Iran shouldn't affect prices at the pump for Americans. Murphy explains the various problems with this argument. Related: - https://www.econlib.org/library/Columns/y2008/Murphyoil.html - https://mises.org/mises-daily/social-function-call-and-put-options - https://journal.apee.org/ARTICLES_2018_Journal_of_Private_Enterprise_Vol_33_No_1_Spring_parte5 Watch the video version of this episode here: https://youtu.be/hIW7wCR4pfU Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at: https://www.infineo.io Audio Production by Podsworth Media - https://podsworth.com

People in this episode

Host: Infineo

Guest: Murphy

Topics covered

• gasoline prices
• oil self-sufficiency
• economic arguments
• US oil policy
• Persian Gulf conflict

Keywords

• gasoline prices
• oil self-sufficiency
• Persian Gulf
• Iran
• economic arguments

Mentioned in this episode

Places: US, Persian Gulf, Iran

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