Trump’s real closing message: his kkklan rally at MSG

[BoilerJS]

Lol. Government regulations. Not massive demand after the pandemic?

Like there wasn't massive demand before the pandemic.

 

[BB62]

Like there wasn't massive demand before the pandemic.

Oh my.

See, when the pandemic struck, demand cratered. Production fell. Prices fell. Refineries closed.

Coming out of the pandemic, demand rose sharply and quickly. You can't compare that to a stable market for oil in good economic conditions. Production doesn't ramp up overnight. There wasn't enough refinery capacity. Prices skyrocketed.

It's basic supply and demand economics. While I don't doubt regulation had an effect on oil prices, it's a drop in the bucket compared to a worldwide demand for oil booming after a economic collapse.