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

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