The Moron in Chief has taken us from oil independence to begging for foreign oil in 1 short year.
Locally we have gone from 1.85 per gallon going into the election to 3.69 per gallon.
Way to go MORON! 
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What exactly would the Keystone Pipeline do for US?
Welcome to capitalism.
Would you like the government to step in and control pricing?
Hmmmmm. What was going on in the summer of 2020 that would have made the price of oil so low?
No dice, neither the UAE or Saudi have condemned Russia and have said no to increased production. I am moving my planned solar install up to get done ASAP.
War is hell.
Sacrifices are necessary.
It can also be an epiphany. Lots of nations (including the USA) have become dependent on products (not just oil) from sinister nations. Itās time to cut the umbilical cords (which are really shackles.)
The scope of the sanctions keeps changing, and so do the restrictions on systems used to pay for Russian oil.
Who is going to buy oil for Europe that they will very likely not able sell and receive a timely payment?
Uncertainty is toxic. Prices will have to skyrocket for traders to take the risk.
All becuase of the whims of politcians.
I meanā¦ why are they even doing these things?
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Agreed. Oil companies have been adding drilling rigs since we bottomed out under Trump. They could increase their risk and add at a higher rate but seem married to the notion of slow and steady in order to minimize risk.
Now that oil price is high I expect the oil companies with tar sand assets may try and either increase production OR sell the asset off. It has been an albatross around necks for quite some time due to high cost to produce.
That is a very simple way to look at it.
Indeed. Google āRobert Rapier energy indepedenceā and youāll get a sober analysis. I couldnāt link it becuase I ran out of free Forbes clicks.
Your source
Oil Consumption
12,791,553 2nd in the world
Daily Deficit
-7,886,482
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Yep. My source. I saw that.
Wonder what it means?
I only live 20 minutes from work, and at those prices I would only use my car to go to work. Occasionally stop at the grocery store on my way home. If a lot of people follow suit, Iām guessing weāll see a whole bunch of going out of business signs.
It means that they in fact have oil production but they produce less than they consume, which why they have to be nice to Russia.
So it really doesnāt matter how much they have or can produce?
Correct.
And?
Thanks. Just learning.
