Ever since the long gas lines of the 70’s and the invention of the Department of Energy under Jimmy Carter (which proved to be an exercise in futility), Americans have been held hostage to OPEC in the prices they pay for fuel.
Two headlines tell a story . . .
- Sept. 28, 2016 – OPEC Agrees to Cut Production, Sending Oil Prices Soaring
- May. 11, 2017 – OPEC to U.S.: Please don’t pump so much oil!
Thanks to the Trump administration’s opening up of our own energy resources with the goal of energy independence, the global energy market has changed.
Nothing against OPEC, but it is they who have to adjust to market pressures. As for the United States? It’s America first.