The Democrats finally get their wish.
And it will keep falling as a man smacked in the head with a club falling to the ground.
The vicious cycle of cheap oil, oversupply, shortage to the point of panic, rising prices to the point of unreasonable and financial crisis will continue.
An industry with a 5 to 8 year major project cycle time (15 years or more including exploration) simply can’t function efficiently, if at all, on price fluctuations such as these that have been.
There is no portable energy source with the energy density of oil. Without giving up personal freedom mobility AND radical changes to our distributed living arrangement...THERE WILL BE NO GETTING BY WITHOUT OIL.
Biomass is a distant dream if not unlikely.
A long term solution toward energy freedom is possible but not overnight and not by confiscatory taxation. Free enterprise will do it and it was on the way with $150 oil. Before you flame to say that oil producers crashed the price to prevent change...don’t be rediculous...the change could not take place quickly enough or with magnitude sufficient to be a real threat. Moreover, the price would have been high, too high as was $150 oil.