Did I say that?
Posted on: March 31, 2024 at 20:04:00 CT
KC rules MU
Posts:
9216
Member For:
13.40 yrs
Level:
User
M.O.B. Votes:
0
I have consistently stated his policies have not had the adverse affect on the oil industry that many here believed they would. People here have went as far as attributing the higher oil prices in the post covid era to Biden when they were clearly a product of the shutdown in the industry for a significant amount of time and drop in production. Now production is back on trend as I suggested it would and outpacing pre-covid production.
My point has always been Biden's policies don't really impact US oil production and gasoline prices because they do not impact where the bulk of US oil is coming from - private land. He can vent about oil all he wants but he has little power to impact production.
Trump will be in the same boat if he wins because nobody is going "drill baby drill" for high cost of supply oil from federal leases when we are at all time production levels that is keeping oil price in check making a lot of federal leases in the deepwater Gulf of Mexico not all that commercially attractive for the time being.
Edited by KC rules at 20:08:19 on 03/31/24