RE: Almost he entire world came back online after the pandemic, greatly increasing demand in a time when a lot of production had gone offline. Greater demand, higher prices.
That was true Long before Biden became President. I was already traveling on October 2020 and Italy and France ( where I traveled to ) were not shut down and everything looked normal then.
Now, WHAT IF the Keystone Pipeline was not stopped, drilling in the ANWR was not banned, and permits for additional drilling were not made more stringent, would the price of crude not be EVEN CHEAPER than they are now, and more supply would be available ? Or are you saying that it does not matter if Biden’s policies are in place, it has absolutely no effect on the price of oil and gas?
No, any additional production will have an impact but as I said, we're within 1 million barrels/day of our all time peak before the pandemic and that's not enough to have a big impact on global crude prices.
Oil demand went up very substantially in 2021.
Daily demand for crude oil worldwide from 2006 to 2020, with a forecast until 2026*