Leo123
Diamond Member
- Aug 26, 2017
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During Trump the U.S. was a net exporter of oil which caused OPEC to lower prices and therefore lower global gas prices. Since Biden cut off most of our oil exploration and leases on Federal land, the U.S. became a net importer of oil and OPEC had free rein to raise their prices. The U.S. supply of oil around the world (during Trump) limited the billions that Putin raked in as well. Once Biden killed the U.S. oil market Putin's revenue (from oil) skyrocketed giving him the impetus to invade Ukraine. Even Biden recognizes this now because he is releasing leases on federal land.No, I sure don't.
Go ahead, Mr. Economics. Describe how this happened globally.