Posted by Tobby > 2022-06-13 19:05 | Report Abuse

Despite having so many bright leaders in US and EU, they do the opposite to solve problems!
During Trump 8 years administration, one thing he got right is keeping oil as cheap as possible!
Oil contribute to everything nowadays! You use oil just like you use water!
Unless you have better alternative, then you have to stick to oil! Battery powered vicheles are growing fast but it may take another few years before EVs become dominant!
However, the current high oil price is actually temporary! Max 2 years!

Posted by Tobby > 2022-06-13 19:07 | Report Abuse

Deepsea rigs are just starting again! They will go online within few months!
Realistically, we have tons of oil! There's no need for Russia oil at all!
Canada and US alone can supply oil and gas to EU! Instead, Germany build oil pipelines from Russia! And mind you, US is paying NATO to protect Germany from Russia!

Posted by Tobby > 2022-06-13 19:10 | Report Abuse

Even at current rate, oil probably has max out! We may see oil going no higher that usd150! Probably even go down lower from current price!
Why, because variables have changed! EVs contribute to 20% of new cars been produced!
Unless back in 2014 where EVs are very new! Tesla only introudce mass produce Model S in 2012!
Today, Tesla produce millions a year! BYD also produce more than Tesla! Heck, even legacy autos are now producing tons of EVs! So oil price already max out!

Posted by Tobby > 2022-06-13 19:10 | Report Abuse

Okay, so what do Biden need to do to drastically cut inflation! Flood US with oil of course!

Posted by Tobby > 2022-06-13 19:11 | Report Abuse

Do you know as recent as 2020, us was actually net seller of oil! US has too much oil back then! In only 2 years, US is screaming and shouting as oil price reach ridiculous rate!

Posted by Tobby > 2022-06-13 19:13 | Report Abuse

The solution is very obvious! But with wrong leadership, even switching a light is a huge and complicated process!

Posted by Tobby > 2022-06-13 19:14 | Report Abuse

Back in Malaysia, even though we see hike in goods prices, we don't really feel the impact of inflation! Why, because our petrol is very cheap!

Posted by Ny036 > 2022-06-13 21:33 | Report Abuse

US use less 1% cost to print money and china work so hard in the factory and sell cheap to usa. now china realise this. Question now with climate change , war, covid and polictical conflit: goods is more important or money?
seriously this is the last up trend of usd. once oil is not control in usd or oil become less importance usd will never become focus again.

Posted by Ny036 > 2022-06-13 21:38 | Report Abuse

russia fight in physical war, china fight in inflation war. All fighting party also lost but see who lost more/withstand.

Posted by Ny036 > 2022-06-13 21:40 | Report Abuse

soon less and less country wont see usa as taikor anymore.
maybe japan a country in difficult position.

Posted by Tobby > 2022-06-14 18:28 | Report Abuse

Nobody see US as NO.1 already! Especially with senile president running this dying nation!