In this time of pandemic and economic meltdown, news reporters outside of Texas never seem to understand the importance of energy.
Fossil fuel energy is what allows the supply chains to remain open, food available in your stores, electricity for your endless internet, washing machines, air conditioning or heat, and hospitals as hundreds of millions hunker down in America during this pandemic. The price war between Russia and Saudi Arabia has made that fuel incredibly cheap, but at what cost? It has killed market prices to the point that American shale producers can’t continue. There goes American energy independence.
It’s caught the attention of the President who is negotiating not only with the foreign leaders, but also within the oil patch. The shale producers are in a battle with the American Petroleum Institute and its global business; Part Two of price wars coming up.