We were very oil dependent in the 1970's. Dependent upon foreign oil.
We have plenty of oil..or can get it. Not long ago, American companies were overproducing to the point they literally paid to take oil off their hands.
I'm nowhere near smart enough to know whether we're entering cyclical inflation. But it won't come from energy sector. The pipeline issue will be fixed in the near term. Being subject to ransomware though is definitely a wakeup call for Homeland Security.
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In response to this post by orangenblue)
Posted: 05/12/2021 at 11:20AM