“We have them by the cahones, squeeze Mr. President!!!”
In a way, he already has. China’s petroleum industry, for instanse, is crashing amidst the price war going on between Russia and OPEC and our cut back of demand, hence the anchored ships.
Earlier this month, PetroChina, a holding company which serves as a stock market listing entity for the China National Petroleum Corporation, launched an initial public offering (IPO) on the New York and Hong Kong stock exchanges. The IPO is valued at nearly $3 billion, scaled back drastically in size due to a lack of worth of sales.
And OPEC is discussing investments by a number of oil companies to include Chevron, Conoco, Exxon/Mobil, Marathon Oil, Phillips Petroleum, and Texaco. You can’t eat oil. Having a higher ownership in their oil output can give the US better control of the world’s supply.
So there are things in the works behind the scenes supplied by the media. This is the type of actions that can get us in control and slow the price gouging problem with oil.
rwood