President Biden called out the need to lower inflation by combating the huge impact energy prices have on costs. Announcing the coordinated release of oil from emergency stockpiles internationally due not only to Russian oil sanctions, but domestic oil producers in the United States failing to produce.

Oil drilling starts in the United States catered during the Trump administration starting well before the beginning of the covid-19 pandemic as scene in the EIA drilling report below. Only now under Biden has the number of active oil rigs begun to increase.

On the flip side, gasoline inventories have fallen month and month while the refinery utilization rate has stagnated at 87%. The crack spread for oil distillate profits has spared 41%. This trend highlights the massive disparity between the cost to produce oil and the value of the final product. Democrats have done a shitty job showing how oil producers and oil refineries are owned by the same companies who manipulate production to keep prices high. Republicans meanwhile are entirely silent on the issue and instead excoriate Biden for failing to entice these companies to produce more.

To affect true change, five things need to happen that Republicans will not allow.

1. All oil leases not utilized will be reclaimed by the Federal government and auctioned off again.

2. The United States investment into producing electric only cars or hybrids with fuel efficiency ratings over 40-50 miles per gallon should be 1/3rd of the price of the car, paid as a refundable tax rebate.

3. Any further acquisitions or merges of existing oil and gas producers must be denied. Existing producers of oil who in turn refine their own product must be split up. A lack of competition has enabled the current price manipulation.

4. Oil and gasoline exports in the United States must be halted again. This is a necessary price control needed to insulate Americans from the predatory production and price manipulation of OPEC+.

5. Lastly, oil and gasoline trading in commodity markets will be limited to domestic refiners for oil and domestic retailers of gasoline. No refiner or outlet will be permitted to purchase contracts greater than their ability to take delivery in any given week or month.