@Lu_Kuemmerle:Biden bought himself time until the next winter with his 1 million bpd SPR #oil release over the next 6 months.A thread about what needs to happen in the meanwhile, to get this supply deficit solved.If the administration can't solve it - the next winter will be much worse...1. Ramp up oil production in the US. Nevertheless, there are structural issues with that goal. Like not enough drilling activity, low investments into the sector over many years and companies that use the newly generated cash flow to increase shareholder value vs. investing more.2. Get a nuclear deal done with Iran. Such a deal would have probably a direct impact on the supply situation. Without sanctions, Iran would be able to produce 500 to 750k bpd more.Rystadt currently estimates that this could replace 75% of the c