You are not that short sided.
Posted on: October 11, 2021 at 21:39:33 CT
tman MU
Posts:
36289
Member For:
21.74 yrs
Level:
User
M.O.B. Votes:
0
When they struck a deal with OPEC, which is over by the way, what did he do so?
Hint. There was significant global oversupply and the US market to produce shale oil costs more than traditional oil wells. So he actually preserved the US production capcity
Now, Biden on the other hand has canceled pipelines which is an efficient way to bring oil to market. He has restricted new oil wells drilling on federal lands, he has passed new regulations which increase costs and restricts supply
So tell me how a temporary cut is still reducing production capacity