This is where we are domestically with oil production.We are producing 1.5 million less barrels a day while buying over .5 million barrels a day from Russia.No Russia isn't even one of our largest suppliers but OPEC is not increasing production to compensate for the rising costs.Some say why are we not producing more.The Biden administration increased drilling fees and limited drilling on public land. Less supply.Also drilling companies worry they will be used until prices ease then the restrictions we be applied again. Why start up to be shut down again.Start up costs, in almost ALL business is the most expensive. Yes prices would have even gone up under Trump due to the market but he would have foreseen this plus domestic production would have been steady.Here is the US production thru last year.We aren't even at 2018 levels let alone 2019 levels.When supply slows prices increase.
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