for a fact, Oil actually got down to -$40 a barrel under Trump. Nonetheless, that was not Trump doing but Russia's doing as the flooded the market with Oil and the other Oil nations started to pump more so they could pay their bills, given that Oil needs to be at $62 a barrel to break even and the flooding of Oil caused it to drop into the minus category for 1 week. As such, Oil was not dropping in 2020 under Trump, it had been rallying up to $62 (breakdown point). Biden's policies did generate a 15% increase in oil (small price to pay for Climate change actions) but then Putin invaded and he caused oil to rally an additional 55%. This is not opinion, it is fact that is clearly seen in the charts of oil. As far as your energy dependency is concerned, that is pure misinformation on your part. Do you have any idea how many farms with Oil underneath the American Oil producers are sitting on without using?
Why are US oil companies not producing more oil?
The biggest reason oil production isn't increasing is that
U.S. energy companies and Wall Street investors are not sure that prices will stay high long enough for them to make a profit from drilling lots of new wells.
It is not about Biden making us dependent on other countries for Oil. It is that our own oil companies are not willing to spend the money to drill for new oil because they feel that in the long run, they will lose money.
As far as inflation is concerned, Biden is guilty of a small and insignificant part of it. Inflation has to do with the pandemic and the demand and supply issues that it brought, it has to do with the Fed and their late response to inflation beginning (they should have begun to raise rates 18 months ago but they only started it 3 months ago, and it has to do with Putin's war. Inflation is everywhere (not just in the U.S.). In fact, we have lower inflation here than in most countries. UK has 18% inflation. In Europe, inflation is around 10%. Our inflation (as of the last figure) was 6.8%. This is not Biden's fault. In fact, there is a case to be made that Biden has helped us have lower inflation than elsewhere.
Don't argue against me on this. I am a stock market analyst (have been one for 47 years) and I make my living by analyzing what is happening to supply and demand and the issues involved so that I can either make or lose money for myself and for my subscribers. I have been highly successful in trading this for decades.
You need to do a bit more "unbiased" research and you will find the reality of things and not the extreme right view of things.
