Ray From Cleveland
Diamond Member
- Aug 16, 2015
- 97,215
- 37,440
- 2,290
A freeze on NEW oil leases (currently blocked by court order) doesn't "remove" ANY oil whatsoever.
Nor is anyone suggesting that existing oil leases be ended.
Gas prices have increased because they were incredibly low due to the covid shut down, because demand is up.
Have SA and Russia increased production? They could. That would lower prices. Of course why would they do that....
Have we backed off on our refusal to buy Venezuelan oil? That would also lower prices.
It doesn't really work that way. The fact is under Trump even in our best economy in 50 years, we never hit $3.00 a gallon nationally. Under Dementia with an over 6% unemployment rate we have.
The difference? Trump is pro-energy and the communists are anti-energy. Besides the drilling and exploration halt on public lands, he also shutdown the Keystone. When asked about the gasoline pipeline hack, he said that was more a private matter than a government one.
Fuel investors read the writing on the wall. Gasoline and oil are big money commodities, and making the slightest mistake could cost you thousands. The smart money is on prices increasing until 2024, and that's exactly what we are going to see.