there's a lot of misconceptions being thrown around itt and i'm going to do my best to clear some of them up.
1. If what the SAs allege is true, then yeah it's a huge black eye for Biden.
2. We import 6% of all imported oil from SA/OPEC+. it's not a matter of energy independence for the US, it's a matter of OPEC+ being a massive producer of oil that influences global rates - especially with Russian oil being PNG.
3. Oil prices are dictated globally, not regionally - so when OPEC cuts production it causes other countries to jack up the rates they're willing to pay for oil, which in turn drives up domestic prices.
4. We need to influence other countries to increase production in the aggregate to offset the stranglehold OPEC+ has on the market. With Russian oil being blacklisted right now, and OPEC+ cutting production to drive rates higher during a time when global oil consumption is at a high mark, we end up with the prices we're experiencing now and will likely continue to experience in the near future.
5. US Production is getting closer to all-time high levels, but we need to increase production and increase refining capacity. it takes 6+ months for new rigs to become operational, and years for refineries to become operational. Biden needs to offer financial incentives for businesses to expand drilling - as well as offer financial incentives to private and public lenders to fund these expansions.
6. The US should be cutting pretty much all embargoes and oil industry financial sanctions to SA countries which have hindered their production over the past decade.
my two cents
