Even though the U.S. is now the biggest oil and gas producer in the world, we are not totally immune to oil disruptions in what is a global marketplace.
The Saudis want at least $70 a barrel for Saudi Aramco's IPO. And they really prefer $80 a barrel. If President Trump decides to lift sanctions on Iran, then it looks like the Saudis will be forced to delay its IPO yet again.
BP is ditching Alaska, others may follow suit.
The U.S. Strategic Petroleum Reserve sale shows just how strong the U.S. energy market is.
Size matters in the global oil markets.
One thing to remember about all of this predicted doom and gloom is the last time Brent crude dipped into bear market territory, it was a lot closer to the bottom than the top.
If the Fed cuts rates, it could increase what you pay for gas and even impact the cost of goods.
Drone shoot downs and seized tankers escalate in the Strait of Hormuz.
The bottom line is the growth in U.S. energy has not only been economically sound policy, but it also has served the environment well. Yet it won’t be enough for some Democrats who want to declare a 'climate emergency.'
Oh sure, U.S. shale producers have been prolific with oil production, but not so much with actually making profits.