“

Oil companies are hesitant to invest in raising production and building new capacity because the administration has openly, openly indicated that it will be pushing Americans away from consuming fossil fuels. And that certainly has an impact on the future viability of the oil sector. And I think that's why we probably won't see much meaningful improvement. the party of the president traditionally loses seats in midterm elections. High prices at the pump can exacerbate anger at the ‘incumbent’ party.