There Is No Short Term Fix For Oil Price Volatility

Russia’s invasion of Ukraine has caused some of the most volatile days in the history of oil markets and that volatility isn’t going anywhere. The war in Ukraine has also shown, once again, that the world very much depends on oil and gas and any major disruption (or a threat thereof) would threaten global energy supplies and the energy security of Europe and the United States. The U.S. Administration has finally realized that it needs to turn to its very own American oil producers for more supply, instead of months of pleading with…