I don't care if anybody believes me... I wasn't watching "Psaki" on purpose, I dropped into the news to catch up on the invasion, and she was spewing the "unused drilling leases" talking point. She has a very difficult job blaming everybody else in the world, other than her own administration for the public challenges we face. Blaming the US oil industry for energy price inflation is remarkable.If you wanted anyone here to believe you actually watched Jen Psaki, you could start by spelling her name right.
Leaks/rumors suggest the Biden administration will bend to public opinion and stop buying Russian oil... The EU won't stop because they literally can't afford to. Oil energy prices are heading even higher from here but IMO banning Russian oil is the right thing to do despite the price consequence, while Russian oil is only a modest fraction of our imports. Oil is fungible so China or somebody else will get the Russian oil cheap and we will have to source oil elsewhere.
I still can't predict the future but am worried about the ideas they have been floating to increase/replace oil supply (like opening Iran, Venezuela).
My apologies to madame Psaki no insult intended, thanks for fact checking me and correcting the record.
JR