Who’s Profiting From the High Oil Prices

Added: 2026-05-23

[00:00:00]What we know about US stocks is two things. A significant fraction are owned by foreigners.

[00:00:09]There's a little bit of dispute between people.

[00:00:12]I've seen estimates that run as high as 40% of US equities being foreign owned.

[00:00:19]If that's the case then one of these excess excess profits, something like 40 cents on a dollar might be going to foreigners.

[00:00:27]Um not totally sure about that number but what we do know is that among US investors, among the US public, um stocks are basically held by a small fraction of the population. About half by the richest 1%. Another 37% according to the latest latest numbers I've seen by the next 9%. So 10% of the US population, and this by the way includes mutual funds. That includes pension it includes your TIAA, sorry TIAA. That's That's only what academics have. It includes your 401Ks. So US stocks are overwhelmingly held by a small fraction of the population. The great bulk of the US population has very little stake in the stock market. For all the talk about it really is not something that's terribly relevant to most people.

[00:01:21]Um on the other hand almost everybody has to fill up their tanks.

[00:01:26]And even if you don't, even if you are carless in New York City, which is not very many people but anyway, uh then um even so the price of almost everything you buy is affected by the price of of fuel. It's affected by the price of fertilizer and also that which also is a very much petroleum related. So um on balance certainly 80 85% or more of the US public is a net loser from higher oil prices and hence a net loser from increased US sales of oil abroad.