Reply to $7/gallon gas is coming

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][twitter]https://twitter.com/tomselliott/status/1500808667100286979[/twitter][/quote]

Domestic Producers have no plans to invest in domestic capacity, even at these high prices. They know the long term trends - move to electric vehicles, better efficiency in ICE, big leaps in battery tech - make their domestic investments moot in a couple years. It’s not enough time to recover the CapEx.

Further, a huge number federal land leases for drilling are not being used by the industry. They are just sitting on them, doing squat.

Time for Biden to grab the bully pulpit.[/quote]

Of course they don't thanks to the left's war on oil.  
If this administration would change their policies and rhetoric, the pumping would start in earnest.  [/quote]

There is no war on oil when the vast majority of people rely on it for energy. Oil is still the dominant incumbent. To pretend that the fossil fuel industry is a “victim” is just laughable. The industry has a complete strangle hold one major political party and a significant chunk of the other.

The real war is the one between oil & new technology. No incumbent has ever defeated technological progress.

Right now, there is a concerted effort to raise oil prices - by the industry & OPEC - to affect American politics and manipulate voter sentiment. 
[/quote]

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