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- Jan 16, 2017
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It's just supply & demand in operation.
The oil producers can't agree who should cut back production despite the demand for oil dropping hugely due to Covid-19 lockdowns and travel restrictions - hence the oil price crashes and gasoline price drops to 1980's levels. No subsidy needed.
Lovely theory, when then are these billion (trillion) $ companies not out of biz if supply and demand is the key? Some reading if you dare
(there's tons more if you want to be depressed)
This stuff doesn't even account for current administration helping our poor beleaguered (ha ha ha) fossil fuel companies due to pandemic lower-driving situation.