Remember folks, this is transitory. And if you feel warm liquid pouring down your back, it’s just raining outside.
“Remember folks, this is transitory.”
This is the first time in energy production history it isn’t transitory, and it’s unnecessary.
Giant investors lowered investments in future oil and gas production and are investing in BS green energy and that’s WHY it isn’t transitory. This is a Global movement.
Even if they changed their minds today it would take several years to bring back sufficient production.
Lower income countries and people will bear the brunt for a long time.
Biden’s loss of 3mm barrels a day through closures of areas and stopping the pipeline are a SMALL part of the problem the world faces now when it comes to energy. Most of OPEC can’t even hit their reduced production numbers, let alone produce more. The Saudis don’t even break even until well over $100 so why should they care?