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Non-Tech : Kirk's Market Thoughts

COHR 179.98

-9.3%

3:09 PM EST

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To: Sdgla who wrote (16521)	8/15/2023 11:03:23 AM
From: Qone0	Read Replies (2) of 26764

>> Meanwhile gas was sub $1.90/gallon 3 years ago because of supply being increased. << US oil production is back getting ready to set a new record high. So why is the price oil not back? Critics accuse President Joe Biden of waging a war on the oil industry that is hurting consumers at the gas pump. And yet, on his watch, US oil production is poised to shatter all-time records set during the Trump administration. US oil output is now projected to rise to an average of 12.8 million barrels per day this year for the first time ever, according to federal estimates released Tuesday. What you believe is not true. There is a reason OIL is staying higher and it has nothing to do with supply and demand. When Trump and congress didn't support the companies of oil during the pandemic. Oil went to negative $40 a barrel. Which destroyed production, then demand returned. Watch as the known reserves are depleted. https://www.worldometers.info/oil/

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