Read my post again....
"Just curious. We were exporting fuel under trump. There was a positive attitude during Trumps term toward energy. Biden runs on a platform and makes no bones about eliminating fossil fuels -largely to placate the progressives and the green platform. To say nothing of his position on drilling on federal lands, fracking etc.
You really think that had nothing to do with rising fuel prices? The cooling economy based on the pandemic alone if anything would have stabilized oil prices just based on less demand. But I would think as fickle as the oil market is, with tightened money based on a lack of confidence on where oil was going because of the hostile political climate i'm sure that had a lot to do with tightened demand.
Just a guess."
You cite a lot of statistics and I will assume they are correct. But I do believe under Trump we were positive in terms of exports vs imports more than we have ever been. And I think you are dreaming if you think Biden's clearly hostile view toward the the energy industry did not have an immediate impact on energy prices. Putin and Ukraine were not on everyones mind (unfortunately) when Biden took over. Seems to me, regardless of the commodity, prices are driven by what "analysts" are quick to jump on. Do markets respond to where they "might" be?.. No, IMO they respond quickly to inventory replacement costs.
Was there a lot of BS in the news regarding such things as the impact of the XL pipeline cancelation-yes. But I have to believe the oil traders were quick to respond to Biden's victory and his very public anti fossil fuel position and his desire to placate the loons in his party. Fifty years ago markets did not have the influence of immediate communication on the world scene with everyone responding to the news that is quickly available today. The oil jobber in Nebraska doesn't have to wait to get the news at 6PM or when his paper arrives. He sees it on the news at 6AM and starts sending his transports to his source terminal to build his diesel inventory at 6:05.
I