Geostrategic sea change. The 70’s oil embargo brought the U.S. to its knees and contributed not only to transportation crises but to inflation as well. The 90’s threat to interfere with oil transportation in the Straits of Hormuz caused a major political panic. “No Blood For Oil” was a rallying cry on the Left, where anything that gave the U.S. a hard time was and still is welcomed. Now? Now they’re cutting production to prop up prices and looking over their shoulders. Offense to defense. Huge change.
Indeed, but the current US advantage could evaporate with one election and a few executive orders. Fear the Green.