Dandu, USA oil production...some historyHistorically when prices went up shale kicked in...however...
What everyone found out was that shale was a money pit with NO return...
Fast forward to today...NO one is talking growth of US oil....why?
Historically...Oil companies took on debt to give consumers cheap oil ignoring investors...now
Now the companies are not going to save the consumer...they have all agreed not to drill for growth but instead pay debt and focus on shareholder returns (they should have done this all along)
SO now we enter a new phase consumers actually PAY for the oil they use.
GREAT FOR OIL PRICES AND BTE!!!
PS also add in the eco woke attacking oil companies and who wants to spend for growth...hit them in the wallet...when EV's sky rocket in price people will be stuck. Don't sell your ICE vehicle yet!