Quote:
Originally Posted by Kzoo
Hi Steve.......is this still true, or is it a number from a couple years ago when gas was sub $2 a gallon? I thought a large amount of domestic oil production has pretty much been stalled in the past year. No?
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Gas was sub $2 a gallon because the pandemic hit, travel stopped...and with that, demand fell off quickly.
Oil companies had to stockpile it and had nowhere to put it, which is why oil was selling for less then $0 a barrel for awhile there.
They won't make that mistake again, anytime in the near future.