Because there is a global shortage, which is what drives the prices.
Cougarbear: Thank you Biden for that too. Had Trump remained President, there would be no war in Ukraine. We would still be energy independent controlling the oil prices. But, now it's the rest of the world doing that. And, where did the reserves go to? China and other enemies of ours. It should have stayed in the U.S. But , China has the goods on Biden and Hunter's escapades in China. Russia and China have no fear of Biden. He's weak and clueless about business. Just like his supporters.
If only Trump had not threatened the Saudi's and Russia into slashing production that would not have been necessary
Cougarbear: They weren't threatened. What are you talking about? The U.S. was supplying the world with oil from our own oil fields and from Canada. Trump did keep Russia from completing a pipeline to Europe via Germany. That's because we were supplying Europe. But, Joe immediately let Russia complete their pipelines and sell to NATO countries. How stupid can Biden be! And, Putin saw this weakness in Biden and invaded Ukraine like he did under Obama-Biden.
We still are.
No we are not.
We are producing more oil now than when Trump left office.