Based on what? Listening to Sean Hannity.Not claiming to be an expert but certainly more knowledgeable and experienced than you.
I know you have done it all, commodity trader, slum lord, truck driver, fireman, dog catcher, etc.I spent a few years trading commodities, that's how I know what's involved here. And yes, all fuel is a commodity. When you use your own hard earned money to invest in such a high risk market you do a lot of studying, trial and error to protect your money. You spend weeks and months educating yourself on exactly what's involved.
So all these folks are wrong and you are more of the expert in the field than they are.The US produces not only enough food for our people, but enough to feed other countries as well. But guess what? We still trade things like corn, wheat, soybeans, cattle, hogs, cotton, lumber, and a host of other items we use every day. The commodities market was designed to stabilize prices. No, it does not work in our favor every time, but we would be much worse without it.Commodities are not like stocks. With stocks you invest in the companies that produce products or services. When you buy commodities, you are buying (or selling) the actual products itself. It's all very involved to paraphrase it in a few paragraphs, but you can trust me when I claim I know what I'm talking about.
“Energy independence” is a political phrase, not a literal phrase. Despite how Trump and others have made it sound, it does not mean the US was ever going it alone.
“A ridiculous term,” said Jim Krane, an energy studies fellow at Rice University’s Baker Institute for Public Policy.
“A horrible term,” said Jeff Colgan, professor and director of the Climate Solutions Lab at Brown University and an expert on the geopolitics of oil.
“This stupid term,” said Amy Myers Jaffe, an energy expert and a research professor at The Fletcher School at Tufts University.
The term has various non-literal definitions. And the US did satisfy some of these definitions under Trump in 2020 — as it did again in the 11 months of 2021, mostly under Biden, for which we have complete data.
For example, in both periods, the US exported more crude oil and petroleum products than it imported. It also produced more primary energy than it consumed.
But the trucker driver, slum lord knows more.