Comments by "Curious Crow" (@CuriousCrow-mp4cx) on "Deindustrialization in Europe?" video.

  1. Not quite true. There are two tupes of crude oil: sweet oil and sour oil. Sweet oil is the most valuable as it produces the most fuel for gasoline, kerosine, etc. Sour oil produces more lubricants, chemicals, and the heaviest and dirtiest fuel oils making it less valuable. Which types a country has is determind by its geology. Thus, the US profuces more sour oil than sweet oil, and therefore exports much it to refineries in other parts of the world where sour oil is more common, and imports additional sweet oil. As the Middle East produces more sweet oil than sour, this is the reason why the US has pursued an active geopolitical policy in the region. So your quote doesnt reflect the true economic dynamics of the industry and the consequences.
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  2. The US jobs data says the complete opposite. The IRA whilst going in the right direction, hasnt invested enough to ensure future energy demand can be met. Consequently, some if the Mag 7 firms are looking at investing in nuclear. The IRA is a beginning, but more needs to be done. As for reindustrialisation in the US, until major areas of earlier deindustrialisation are addressed, those regions will be a thorn in the side of real economic growth in the US. At the moment your just nibbling aroubd the edges.
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