Speculators aren't the ones causing supply shortages across the globe. While we might have enough here in the US for our own needs, we'll never be immune to global supply shock (mainly through prices) unless we force US producers to sell below market level. Why would they want to sell at $50 a barrel when they can sell it for $120 a barrel to a country who's supply was disrupted by the closing of Hormuz?? That or we can just take it from them and nationalize all our oil wells, but that seems a bit like socialism.
Supply and demand, and there's a major global supply issue at the moment.
By
akvanden ·
