Neal Bawa explains that the US produces more oil and natural gas combined than any other country, with prices second only to Saudi Arabia's. He compares current energy dynamics to how the Federal Reserve used high interest rates in the 1970s and 80s to crush demand and bring down oil prices.
we've got an energy inflation issue and it's a worldwide issue. It's not actually, the US is the luckiest country in the world at this point, just for the record. So we are both an oil and natural gas producer in, in together. If you take them together, we're the largest producer in the world. We're not the largest exporter in the world, but we are the largest producer in the world. And if you actually look at oil and gas prices today, we're pretty much the lowest in the world with the exception of Saudi Arabia. So when you look at this, when you look at it's helpful to look at what the Fed was dealing with in 1990, in 19, late '70s, and also in '81. And basically they used the interest rates as a brute force weapon. It is a hammer, it's not a scalpel, it's a hammer. And they basically hammered, they bring down every single kind of demand by slowing the economy. And that also helps with oil. I sure you could say, you know, oil has nothing to do with us at this point of time.
