The modern world cannot survive and thrive without a productive petroleum industry
While the U.S. is the world’s top producer of oil, it’s also the world’s top gas guzzler.
Inflation, spurred by supply chain issues and Russia’s war in Ukraine has driven up the cost of this valuable resource. On top of that, Hurricane Ian forced offshore producers in the U.S. to scale back production.
Even the head of Saudi Arabia’s state-led oil company, Saudi Aramco, is concerned. Earlier this month, he issued a dire warning that prices could spike soon due to Aramco's “extremely low” capacity.
Which means Americans should be preparing for a very expensive winter.
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