The problem is OPEC sells oil in dollars, and buys most of their imported goods in euros. A weak dollar makes them angry, and they hold back supply, just as they did in the 1970’s and just as they have done the past few years. I do give the author credit for knowing the Phillips no longer works.
The US needs to get off foreign oil as soon as possible. Not because of “Global Warming” but because it’s a national security issue. Oil revenue adds up being used to fund terrorism.
Maybe oil could be drilled in the meantime in Alaska. The environmental alarmists need to stop filibustering it.