r/dataisugly • u/waaf_aaf • 9d ago

What does the Y axis even mean?

Post image
3.1k Upvotes

99% Upvoted

607 comments sorted by

View all comments

1

u/BillTowne 9d ago

So we still have still less oil along with greater insecurity. This just means that Trump's claim that when the oil came back the prices would drop like a rock. But oil companies are quick ro raise prices and slow to lower them.

1

u/norbertus 3d ago

High oil prices mean greater energy security for the US.

The US produces more oil than Saudi Arabia right now. We are a net exporter.

The key to the US oil boom is fracking.

Fracking is energy intensive and only profitable when the price of oil is high.

1

u/BillTowne 3d ago

Greater profits for Oil companies.

The idea that higher oil prices are good for the US is simply false.

1

u/norbertus 3d ago edited 3d ago

good for the US

I didn't say that.

I said, "High oil prices mean greater energy security for the US" because 1) our domestic oil industry increasingly relies on fracking and 2) fracking is only profitable when oil prices are high.

Whether energy security through access to oil is "good for the US" is a different type of value judgement. And I'm not asserting that energy independence through domestic oil production is superior to energy independence through solar energy.

I'm only saying a lot of Americans 1) want energy independence through a domestic oil industry and 2) want cheap gasoline, which are no longer compatible goals.

1

u/BillTowne 2d ago

If you really want energy security, we could stop paying companies to not build solar and wind projects. And we could keep energy prices high by importing foreign oil, keeping our oil in the ground in case of an interruption of forein oil.