I suppose if we built that pipeline 2 years ago and gave incentives for drilling and refining two years ago we’d be all set.
IMHO the pipeline is chump change compared to the regulations against fracking (EO's Brandon signed his first week in office, plus new regulations to "carbon capture"). I'd rather win the battle to unleash the free market in fracking than win the battle on the pipeline.
Actually no.
The reason was a new floor for fuel prices set in the fall and winter before last.
Prices escalated when they normally dropped due to less driving in the colder months after the vacation season.
The reason for the increase wasn’t the lack of oil. It was the huge amount of fuel we exported to South America.
Inventories in the US dropped to the lowest level in decades which caused commodity traders to bid prices up.
BTW, that fuel could not have been exported w/o export permits from the Biden dis-administration.