The myth of US energy independence
Explain It to Me
00:00
How Much Price Control Do Companies Have?
Before the pandemic, you had domestic oil companies producing as much as they could. And opec plus, which is all the opec countries plus russia, able to exert some price control. After the pandemi vasically, these fracking companies are now trying to be very profitable. They don't want to increase their production again because for the third time in a decade,. The companies keep doing this thing where they produce a ton of oil. They produce so much oil at the global oil like oil prices rise internationally. The frackers produce a lot of oil that oil prices crash and then they're left with an unprofitable drilling industry. So waltz: There's actually a
Transcript
Play full episode
