vandy1981
Well-known member
Exactly. It's also informative to overlay crude oil prices over the US oil production chart. Companies are only going to fund exploration and production if crude oil prices justify the expense. Government subsidies would lower the activation threshold, but ultimately the company decides when they want to drill a new well and pump oil.I think you should look at official numbers from the EIA instead of believing all of the propaganda from the left and right:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M
Specifically, note that the steep rise in oil production starting in 2008, that lagged behind the rise in oil prices that started in the late 1990s. Notably, we had a Republican president while the prices were going up and a Democratic president while production was scaling up.
Oil sells on global market and it's not simple as saying Democrats hate oil and want expensive energy and Republicans love oil and want cheap energy.
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