And how would gas prices be any different under
Posted on: March 9, 2022 at 11:59:36 CT
KC rules MU
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Trump? The fact of the matter is, they would be pretty much exactly the same as they are today. A president's policies can impact oil price but that comes with a fairly significant time lag and Biden has not been president long enough for that to happen. His policy towards leasing has had absolutely zero impact on oil prices - that impact would be felt years down the road. Same with fracking. Same with the Keystone pipeline which would not even be operational at this point (and if it were, for many reasons, it would not be an oil price panacea). I doubt if the Russia decision ultimately has much impact because other countries buying Russian oil will free up other supplies for the US. It's a false narrative and folks outside the oil industry just don't seem to understand how complicated it is to get production back up to pre-pandemic levels after a significant downturn in the industry.