Quote:
Originally Posted by Martinjlm
The US is a net exporter of petroleum. When global prices go up, it makes sense for US producers to sell more outside the US than to deploy more in the US to reduce prices.
Not only is the US a net exporter, but in 2021 the US was the #1 producer of oil. The prices we are seeing at the pump are because of the global cost of oil, not domestic policy. Don’t believe me? Just go “Hey Siri (or Alexa) what country produced the most oil in 2021?”
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Prices began going up the day Biden shutdown the Pipeline.