Oil will always be liquid gold....If only, the FED came out and said that they'll be evaluating the next months of data before any final decision is made and over this period they just said "No comments till we have further data" and all FED's kept their mouth shut eliminating them guessing or it would have been positive saying that by lowering Inflation to 4% that the US is now better off till they have a better understanding and that would be responsible. Right now the public is being pushed into thinking that we'll have no need for Oil in 30yrs which is total BS, I would like to know how our country and others will continue building anything without Oil from Ashfalt for these EV rubber tires to drive on to a future where plastic is vital for any growth industry Oil will be required for the next 500+ yrs unless when the last EV is built the world stops so they better figure out where the next 200yrs of Oil will come from unless crushing peanuts wearing recycled sandals is their plan and in 50yrs and you'll be paying $20+ for a quart of Oil and in 30yrs they will realize that they had no clue about today guidance of Oil demand. And if no one has noticed countries like India, China, Asia want to be like the US owning a home not made of mud owning cars and toys so their countries are on a 30+yr plan of growth all leaning toward being industrialized and capitalist So where do they think all the Oil will come from if we're running low. Wishful thinking...Bureaucrats who can't see past their noses and deliberately destroy a healthy economy for Americans who require being employed is insanity and by doing this then how do they plan on building an Infrastructure and EV industry by their actions of contraction? They need to shake their heads and come to grips that Oil is the lifeblood of the world and should be worried about not having enough in 200+ years plus zero emissions isn't realistic and over the next 30 - 50yrs Oil companies will merge into bigger players expanding reserves. The FED messed up on simple physics when Inflation was full steam ahead that's when you apply the most braking power to slow and come out with larger Interest Rates hikes at the start. You can't build anything from raw electricity the world needs commodities to build everything that's driven by electricity and Oil better be protected for future generations unless we go back to log cabins and candles singing Kumbaya.
Oil will truly be liquid gold.