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In essence Biden is slowing U.S. oil production, we are oversupplied U.S. is a net exporter of petroleum distillates. What will lowering U.S. production mean for the global market? By lowering supply will prices adjust? Isn't this market manipulation? It happened last year when SA and Russia began pumping out petroleum during the pandemic lowering their price because the demand tanked. I feel there's a scheme going on here with oil futures.

In essence Biden is slowing U.S. oil production, we are oversupplied U.S. is a net exporter of petroleum distillates. What will lowering U.S. production mean for the global market? By lowering supply will prices adjust? Isn't this market manipulation? It happened last year when SA and Russia began pumping out petroleum during the pandemic lowering their price because the demand tanked. I feel there's a scheme going on here with oil futures.

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A lot of the American oil companies like Valvoline for example, doesn't even waste time digging for oil, they make theirs from recycled oil. They hydrotreat the used stuff you drop off at the auto parts store, and make brand new high quality synthetic oil out of it.