Quote:
Originally Posted by Jim in CT
it’s a lie to say that democrats are hostile to fossil fuels?? no it’s not a lie. and america knows it.
the left decided to oppose fossil
fuels and go all in on green energy. If it had worked well, heys be heroes. But it failed horribly. They own it.
oil production is not the same. it’s down a little from 2019. it was trending up and up, then biden, who had to make promises to the progressive wing to get the nomination, won the election.
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That is disinformation, pure and simple.
Oil production was trending up, oil prices down until someone interfered and it was long before Biden's administration.
How soon we forget what reduced US oil production to it's lowest point since Obama.
Oil-producing nations on Sunday agreed to the largest production cut ever negotiated, in an unprecedented coordinated effort by Russia, Saudi Arabia and the United States to stabilize oil prices and, indirectly, global financial markets.
Saudi Arabia and Russia typically take the lead in setting global production goals. But President Trump, facing a re-election campaign, a plunging economy and American oil companies struggling with collapsing prices, took the unusual step of getting involved after the two countries entered a price war a month ago. Mr. Trump had made an agreement a key priority.
It was unclear, however, whether the cuts would be enough to bolster prices. Before the coronavirus crisis, 100 million barrels of oil each day fueled global commerce, but demand is down about 35 percent. While significant, the cuts agreed to on Sunday still fall far short of what is needed to bring oil production in line with demand.
The plan by OPEC, Russia and other allied producers in a group known as OPEC Plus will slash 9.7 million barrels a day in May and June, or close to 10 percent of the world’s output.
Unfortunately restarting oil wells is not just like turning a tap. US production is particularly hard to restart, as is Russia's.
The oil supply and demand will take a while to reach an equilibrium.
But that wouldn't fit your Party line.
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