Small portions of them around the world - is largely for show. I think the coordination itself is the most important thing. I don’t agree that oil is at $100 because of Biden appointments, and I don’t agree that he has implemented an entirely unrealistic green energy plan. I don’t think he has implemented any green energy plan, and the one currently in Build Back Better, if passed, would be phased in, and is not even certain enough to pass in its current form to be driving expectations.

Extremely anomalous supply-demand dynamics are driving the current price spikes. Other than the debate about whether or not global shutdowns were the best way to go in 2020, and I think there’s a debate to be had there, governments are not to blame for this. I don’t agree that impacts from the SOL releases are likely to be materially productive or counterproductive. I think the best (or worst) will be marginally productive or counterproductive.

The one policy that has been implemented, which is the infrastructure bill, will help relieve supply chain issues. But not quickly enough to address this current problem.