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Reply to "$7/gallon gas is coming"
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[quote=Anonymous][quote=Anonymous] US oil and gas production remain at historic highs compared to the last 50 years. But to listen to Republican BS you'd think the entire industry was completely gutted by Biden. [img]https://www.eia.gov/todayinenergy/images/2021.01.14/main.svg[/img][/quote] Again, as mentioned just a few pages back: production lags drilling activity. Production has been kept flat by cannibalizing working capital. Oil prices have held EVEN IN THE FACE OF THE MASSIVE SPR RELEASE. Markets are full-throated yelling that we are in a supply shortage. The east coast is dangerously low on diesel fuel. This story is going to dominate the headlines through the summer and into the fall. [twitter]https://twitter.com/hfi_research/status/1528797979385004032?s=21[/twitter][/quote]
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