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BIDEN BLOWS UP OIL PRICES BY CANCELLING DRILLING IN U.S. NOW BEGS OPEC
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<blockquote data-quote="bbsam" data-source="post: 4961872" data-attributes="member: 22662"><p>That’s not how oil markets work. You probably know it, but facts don’t really fit your narrative.</p><p></p><p>Oil is a global commodity. In your scenario, the US supplied all of its fuel needs and then sold off the rest. That never happened. Mideast oil tankers never stopped supplying US markets.</p><p></p><p>The fact of cheap oil under Trump had more to do with Saudi Arabia attempting to cripple US production. They could survive $20 per barrel oil far longer than any company in the US.</p></blockquote><p></p>
[QUOTE="bbsam, post: 4961872, member: 22662"] That’s not how oil markets work. You probably know it, but facts don’t really fit your narrative. Oil is a global commodity. In your scenario, the US supplied all of its fuel needs and then sold off the rest. That never happened. Mideast oil tankers never stopped supplying US markets. The fact of cheap oil under Trump had more to do with Saudi Arabia attempting to cripple US production. They could survive $20 per barrel oil far longer than any company in the US. [/QUOTE]
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BIDEN BLOWS UP OIL PRICES BY CANCELLING DRILLING IN U.S. NOW BEGS OPEC
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