Diaper Joe’s inability to understand Economics 101 leads to increases in the price of crude oil by 58.211%, all in less than a year! When President Trump left office on January 19, 2021, giving way to newly-elected Diaper Joe, the price of a barrel of crude oil closed @ $52.98. Yesterday, that same barrel of crude oil closed @ $83.82/barrel. Diaper Joe destroys America’s newly gained oil independence under Donald Trump and places us back in the hands of OPEC. Need I say we’re in a very vulnerable position these days given that many of these Arabic countries are the same ones that have hated us all along for our practice of Judeo-Christian beliefs/philosophies… you know the drill. Terrorists are back in fashion as well under this Democrat Party rule in Washington.
However, back to the price of crude oil – I doubt it stays here, I believe it can only go higher as the Communist Chinese Virus becomes entwined into American society as nothing but another seasonal flu. Followed by this country continuing to open up will only lead to more demand for fuels, be it for cars, trucks, ship, rail, or plane. You name it, they mostly require crude oil to operate.
I know, if we raise taxes on it prices will automatically go down. Right?
All kidding aside, ANWR is where four more years of Trump could have made us energy independent into the next century. 1996 estimates of 16b barrels of reserves which 10b-11b barrels would be easily recoverable and easy access to terminals for shipping at Prudhoe bay on the Arctic ocean. Alaska is only producing 448,000 barrels per day (2020) it’s lowest level since 1976.
Already establishing the importance of ANWR, let’s expand.
Following rig counts, the U.S. contracted in 2020 and has started increasing (Sept. 21- Dec. 21) reaching 635, still 27% below pre-pandemic levels (SP global platts). Cap-ex in exploration and production (E&P) is projected to grow +/- 23% this year with hopes of a wide spread Republican victory in the house.
Too little too late?
We’ll have to wait and see. Judges, regulators and taxes stand in the way, like it or not, increasing costs for energy are here into 2023 and beyond.
Taken from two bullet points on my ANWR position page (pro), (con) very limited.
Global bad actors should be expanded on, but I’ll wait as we continue.
All these Democrats, not just Joe, all of them living in some kind of make believe world. It’s always the make believe with these folks, fossil fuels are here way, way into the future. Coal as well, they really need to find another Utopia because America’s energy needs are beyond thirst as solar and wind makes not a dent in our constant demand for… these creeps need to select another Utopia to aspire to, this one is taken already, that train has left the station. 🙂