The US Congress throttles oil supply with whimsical prohibitions; and sputters about “global warming.”
Oil demand in China, India, and ROW grows much faster than oil demand in the United States.
US “Big Oil” does not increase demand in China; nor does it throttle supply in the United States.
There is one, exactly one, guilty party: The United States Congress.
Taxpayers should demand information from the US Congress on why it prohibits oil production here.
Why does the US Congress prohibit new nuclear power generation here, when it is commonplace in the ROW?
Is the US Congress enriching itself by selling useless carbon credits; while paralyzing the economy of the United States?
These people, the US Congress, point their fingers at “speculators” or “big oil.”
Drill here, drill now, pay less. Supply, demand, and the US Congress set oil and gasoline prices.
Don’t believe that speculators, or “big oil,” determines supply and demand.
The US Congress has decided there will be no supply. Speculators know it; you should too.