Hardly. Its all stupid. Steel only represents about 7% of Turkey's overall exports. Of that 7%, we buy 5%. What's even funnier, the lions share of that 5% is tube and piping.... and it pretty much all goes straight to the Permian for use in all those pipelines being built to carry crude to Corpus. So who's it really gonna sting in the end? Companies like Plains All-American, Apache, Pioneer Natural Resources, etc. And then the oil companies, and then the consumer. Same ole same ole. What's funny, the last time we bumped them up to 50% to get that Pasture or whatever he was out of there, their exports to the U.S. dropped 38% for the year. That same year, their exports to Canada went up 135%. Hmmm.... wonder what's going on there. For anyone who cares to read up on this: https://www.trade.gov/steel/countries/pdfs/exports-Turkey.pdf The only reason I was looking was I wanted to see how much tube and pipe we buy from them and how much it'll hurt those pipeline players. They're already beat to hell though. No short opportunity that I can see. Hell they might be a buy if they kneejerk down some more on this news. $APA, $PAA, $KMI, $PXD
I think the general populace of the USA will start becoming more cognizant on the issue we are having with Turkey, not because of the trouble in the region, but because Thanksgiving is coming. Google and stuff, and the ButterBall hotline. How sad is that?
I did the same thing, but with online hosting sites before there was YouTube. It was a pain-in-the-butt with dial-up, let me tell you. That is when animated .gif became popular. Poor man's video feeds.
By the way, my responses are serious. The general American is too stupid to know what is going on with Turkey, and will only start finding about it en masse when they start googling "Turkey" for the Thanksgiving thing.
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