That psychology doesn’t go years out like it would have to for Keystone. And typically since it is a global commodity, Dems have no influence on the global price.
True years back, less so today. Available capital has dried up as promised returns never materialized for investors. The big oil companies have decided on stock buybacks and debt reduction and are only slowly increasing capital investment in the US. And that is at $80/bbl so that shows how conservative they are being.
Perhaps you missed one of my points. Capital has dried up. Many of the smaller players can’t find investors anymore. Big players are choosing to play it safe and ramp up slowly. That ramp would increase as price increases but the industry will be cautious, fearing volatility.
Why has capital dried up? Because for years, investors have not seen promised returns on investment. They are fed up.
I don’t make stuff up, I am just repeating what I know via work and reading. For a couple of years my job was to know the current state of drilling, growth rates, forecasts…
The post you responded to had to do with not buying oil when it was cheap in order to supposedly hurt the big oil companies. I was only indicating in that post that it did not hurt them because they benefit more from selling their oil now, at a higher price.
To the broader question of whether OPEC is likely to be influenced by whether the US is supportive of fossil fuel production or not, I would think that is a factor they would consider.