Gas Prices

I thought during the Trump Administration we became self-sufficient in oil production. Why do we now need OPEC to boost oil production? What happened?
 
I thought during the Trump Administration we became self-sufficient in oil production. Why do we now need OPEC to boost oil production? What happened?
Biden happened.

Look at this headline. It just screams 1970's! Oh please oh pretty please OPEC can you increase production?

 
You guys are working hard to find something....LOLOLOL

It's really not that hard.
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I thought during the Trump Administration we became self-sufficient in oil production. Why do we now need OPEC to boost oil production? What happened?
You want the non political answer?

What happened was we had to idle thousands of wells. You remember when oil futures actually went to a negative price where they would pay you to take their oil for awhile? Oil wells that are in production can not be "capped" off without seriously damaging their pumping capacity. So we had to keep "milking" the well gently and oil went down in price and was way below break even for pumping it out if the ground. Now we are behind on re activating the wells and oil is getting more scarce so oil prices are going up.
 
You want the non political answer?

What happened was we had to idle thousands of wells. You remember when oil futures actually went to a negative price where they would pay you to take their oil for awhile? Oil wells that are in production can not be "capped" off without seriously damaging their pumping capacity. So we had to keep "milking" the well gently and oil went down in price and was way below break even for pumping it out if the ground. Now we are behind on re activating the wells and oil is getting more scarce so oil prices are going up.
True, but the significance of no more approved leases and Keystone are important. This is a Green President. Feel the pain
 
Just jumped to 2.97 in my redneck hood.

other the 4th of july gouging weekend it was around 2.90 for a good amount of time.
 
Biden is actully pulling troops out of the Middle East. Please try again!!!
All according to plan. Let the Taliban take back Afghanistan and launch another terror attack so we can re-invade all over again. Think of all the money we can make re-pillaging all the infrastructure we built for them
 
I know this, from where we were last summer at this time, if gas was $5.00 a gallon I wouldn't squawk. We live in a society where we never seem to be happy. More people are driving today because they couldn't last year. Most (debatable) are back working and people are not flying. People are flush with money and bought alot of cars and they are going to drive them.
I'm shocked gas isn't higher than $3.00 per gallon.
 
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