I'm Just A Spectator -- This Is Going To Be Fascinating -- March 10, 2022

IN DRAFT.

For the record, I've pretty much quit reading any "energy" story with a headline that begins....

• what you need to know about high prices (oil and any other commodity) .....
• why it costs to much to fill your gas tank ...
• what the president needs to do to bring down the price of crude oil ...
• here's how Biden could bring oil prices down ....

I personally think this is fascinating. It appears the White House, via the press secretary is telling Americans:

• it's going to get worse ...
• it's going to stay worse for a long time ...
• cardigan sweaters won't work this time ... 
  
• the high price of gasoline is due to Russia invading Ukraine ...
• the answer to the high price of oil is more renewable energy ...
• to transition to renewable energy we need Saudi Arabia to produce more oil ...
• until Saudi Arabia produces more oil, we need to release more crude oil from the SPR ...
• those folks driving Teslas do not have to worry about the high price of gasoline ...

So, I'm a spectator. It will be absolutely fascinating. The minority party needs to sit back and let the majority party solve this problem. 

You know, President Johnson knew it was "over" when Walter Cronkite "broke" with US policy on Vietnam. I don't think we're quite there, but give it another two weeks, maybe four weeks, and there will be very few local news stations that will not be reporting the price of gasoline as the lead story. It may already be  happening for all I know. When that happens, it's all over.

For two years, "we" did everything remotely -- due to Covid. It looks like the fastest way to bring down the price of gasoline is to quit using the part needed for transporation. Go back to doing as much as possible remotely. 

Again, US shale has 9,000 permitted locations to drill according to the White House.

• There are 765 active rigs -- unidentified source; some will say more, some less, but it's in that ballpark.
• 9,000 / 765 = 12 wells.
•  One rig can drill two wells / month.
• That works out to a six-month inventory.
• This is March. Six months from now it's September, and it's over. 

Let the majority party sort this out. 

It is pretty amazing. There really is enough oil but somewhere along the line someone made the wrong decision:

• in Canada,
• in Mexico,
• in Venezuela.

Speaking of Canada, I have not seen one story about Just-In Trudeau in the last several weeks, if it's already been that long.