I wonder what parallels we can draw with oil. The US resumed being a major oil producer in the last decade thanks to the fracking boom. I feel like we got a lot

I wonder what parallels we can draw with oil. The US resumed being a major oil producer in the last decade thanks to the fracking boom. I feel like we got a lot of propaganda about energy independence and not supporting brutal Middle East dictators (that our CIA set up). We got into a price war with the Saudis and Russia [1] and lost. With Covid killing demand this year, the US shale oil industry is on the verge of imploding. I can't see the US competing long-term with cheaper rivals in any natural resource production. We're hamstrung because the main tools for sustaining such industries (state ownership, tariffs, massive subsidies) are politically unpalatable/anticapitalist. "Energy independence" was just a cover for private industry to make a quick buck. Shale firms have not produced a profit [2], workers are being laid off left and right, but owners and investors benefitted massively from the grift [3]. 1. https://www.ft.com/content/2d129e4a-860b-11ea-b872-8db45d5f6714 https://www.ft.com/content/2d129e4a-860b-11ea-b872-8db45d5f6... 2. https://www.hellenicshippingnews.com/the-dramatic-rise-and-fall-of-shale-oil/ https://www.hellenicshippingnews.com/the-dramatic-rise-and-f... 3. https://www.desmogblog.com/2020/03/05/us-shale-fracking-boom-fraud-alta-mesa-enron https://www.desmogblog.com/2020/03/05/us-shale-fracking-boom...