Monopolising oil in favour of political gain
In mid-October, it was announced by some news sources in that country that the US only had enough diesel reserves for 25 days. This came on the back of a limited supply of diesel on the global market, as well as reduced refinery capacity in the US. But really, the oil crisis started back in 2016, when the US began drilling for more oil in light of higher global prices. However, as more oil became available on the market, its price dropped. Then in 2020, when the COVID-19 pandemic hit and lockdowns were imposed around the world, oil prices fell even further as demand declined. In response to the drop in price, Russia and the Organization of the Petroleum Exporting Countries Plus (OPEC+), an organisation that represents some of the world's biggest…