Brad Setser on the War in Iran and the Future of the US Dollar

Bullish:

• $ENERGY - Oil-exporting countries outside the Gulf are major beneficiaries of the current oil shock, with North America producing over 25 million barrels per day.

  • “Russia should win. The Ukrainians are doing their best to kind of limit the amount of Russian oil that gets to the market. The Kazakhs will win. All the stands that can export oil will win. Nigeria will win. Angola will win. All the South American oil exporters will win.”

    Brad·12:50

  • “North America is producing, you know, well over 25,000,000 barrels a day, exporting five to the rest of the world.”

    Brad·13:23

  • “Norway really, really, really bends, especially if gas prices go up.”

    Brad·13:42