The year before Covid-19 hit, the United States became a net exporter of energy for the first time since 1952, sending a strong message to the rest of the world: The country would not be beholden to foreign oil producers.
But with the Biden's administration restrictions on drilling on federal land, and cancelling the keystone pipeline, the oil production in USA decreased.
Then we're going back to the Middle East for our strategic needs of oil, interference and ultimately wars and conflict.
The demand for crude surged as the impact of the pandemic fades.
Demand for oil could peak soon if countries meet their net-zero emissions targets, but OPEC producers and Russia are quick to note it's not going away entirely.
Demand for oil could peak soon if countries meet their net-zero emissions targets, but OPEC producers and Russia are quick to note it's not going away entirely.
Under climate pledges made through early October, the world is still expected to need 75 million barrels of oil per day by 2050, according to the International Energy Agency.
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