It’s all part of the plan. Deplete the reserves, create a crisis, have no choice but to open more extraction operations, oops those pesky indigenous are getting uppity, oops more militarization of police right where we need it to repress rebellion
Yet at the same time Oil companies are setting a record high in crude oil production and trading. Where is the crude oil going? Simple, the hungry europeans are buying premium for a barrel of crude oil, much much more than the american public.
These low reserves was manufactured by oil companies purposefully to begin selling extremely high oil prices to the average american.
Let’s pray Saudi Arabia weaponizes oil one more time.
Seems pretty likely given that they hate Biden and they know that high gas prices are a huge election issue in US.
Doesn’t really make sense since the US is now a net exporter.
If they really need oil, they can just sell less.
That would work with state owned industry, but US has a private oil industry that’s going to sell oil where it’s most profitable.
If things get bad enough, the gov will intervene, as they have done many times before.
Likely
In the oil market, a disruption anywhere is a disruption everywhere. Energy independence is a nice political slogan — and an economic lie.
Except energy independence is 100% viable when you switch from oil to fucking renewables
There’s a reason China leads the world in renewables and nuclear right now.
