This looks to me as an artificially and temporary crisis that is using a perceived problem (cancellation of the Keystone Pipeline and energy independance) and cooperation with Middle East Countries to raise prices of oil for a quick cash grab and then reinstate the pipeline and things are back to normal. Just a feeling and I have no facts backing my claims but the story disappeared quickly and you don't have those tear-jerk stories about the guy who bought the truck and can't feed his family anymore.
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It is what the left believes in and it is cancelled.
If you have oil leases on private land you are safe for now. It’s oil companies that are operating on federal land that just lost the ability to operate. Friends and family in the industry have lost their livelihoods overnight. Most of them too old to financially rebuild
Biden, Pelosi, Gore, Romney and Kerry, to name a few, are heavily invested in foreign oil companies. Biden just eliminated their competition.
https://nypost.com/2021/01/27/biden-to-announce-moratorium-on-federal-land-oil-gas-leases/
You may be on to something. All I know is that gas prices are soaring as we speak.
So I think Trump made special deals with Saudi Arabia to keep production up to keep the price low. Several weeks ago the D party went ballistic on the SA government because of Khashoggi being killed. They were pissed when it happened and then recently Biden imposed sanctions on Saudi Arabia. I think this is part of the reason gas prices will continue to climb. I look for a economic slow down/ recession towards the end of the year.