this post was submitted on 14 Oct 2023
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OPEC+ is cutting production to keep the price high and the US is producing like crazy to fill that gap. The Biden administration wants low oil prices for the obvious domestic advantage, but also to weaken Russia and the oil countries in the Middle East. So they allow increases in oil production. The proper solution is to lower consumption as quickly as possible, but hard pushes against combustion engine cars have not happend in the US, whereas both China and the EU have already passed phase out laws. I wonder why.
We, as in US residents, wouldn't be so worried about oil prices if we didn't have mandatory car ownership.
Real estate prices in places where you don't have to own a car are on the moon. It's almost like a lot of people really hate owning cars and everything that entails.