GASOLINE Futures Prices up 100% since the FRAUDULENT ELECTION, 47% Year to Date
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While Biden's policies are affecting the supply side, we must also look at the demand side. Oil prices cratered at the height of the covid lockdowns as everyone anticipated reduced economic activity. Prices gradually recovered as lockdowns gradually eased, and steadily increased as vaccines started rolling out. This is the demand side equation - with economic activity returning back to pre-covid levels oil prices are increasing to meet demand.
That is the mainstream narrative and it sounds plausible but the numbers do not support these prices or the growth rate.
Oil prices had their first downdraft in 2014 when it crashed from 100 dollars all the way into the 30's in 2016. Then recovered to the upper 70's in 2018 and then was going into another downtrend in 2020 pre Covid.
After prices crashed in March 2020, it bounced up to around 45 and literally was headed back to the lows until it reversed in the first week of November right after the fraudulent election.
I don't buy the argument that the November inflection point was on the back of anticipated oil demand on the back of a recovering economy. There was no data at that point in time, or the month after to support the notion that the economy would be recoverying to support pre covid levels of oil consumption. There was only data saying that a Biden regime would be bad for fossil fuels.
Also, if you take a look at the demand side of the equation, price was falling as demand was rising in the past few years. In addition the anticipated 2021 demand is not expected to be at pre covid levels.
https://www.statista.com/statistics/271823/daily-global-crude-oil-demand-since-2006/
Biden and the Dems are 100% against fossil fuels and make no secret about it. The first thing he did when he got into office was cancel keystone and ban fracking. He did exactly what the markets thought he was going to do, and will take it a step further through further escalation of conflicts in the middle east.
I read an article https://www.washingtonexaminer.com/policy/gas-prices-up-pandemic-texas-cold-snap that says the recent cold in the mid States caused low production of oil which contributed to the gas increase. Biden policies will hurt us more of course, but the current issue is very likely related. The Keystone XL stop was a cause and effect.