06-01-2022, 03:39 PM
(06-01-2022, 02:08 PM)BFritz21 Wrote: Cancelling the Keystone Pipeline could be pointed at him.
Our country being such a shit-show right now means that oil companies can raise the prices and there's not a damn thing we can really do about it can be pointed at him.
Cancelling the Keystone doesn't affect the current commodity prices. The Keystone XL wasn't operational and wasn't affecting supply. Oil companies aren't raising prices due to the "shit-show" of the country. The market is reflecting the equilibrium price due to supply/demand and the Russian sanctions. I am an analyst for an oil company, Biden's policies are not causing the high prices that we see. The United States is currently ramping up production continuously and we are expected to be producing an ATH amount of barrels by 2023.
Future high prices could potentially be blamed on Biden, but the current pricing situation simply isn't his fault.
