Yep. Purchasing power index. FED
Massive Gold Deposits found in the Grand Canyon! Bix Weir of RoadtoRoota pointed out that a story in the NY Times dated June 19, 1912 reported that a massive gold deposit was found in the Grand Canyon and soon after that the Federal Government took control of the Grand Canyon and built a military base where the gold was discovered and to this day nobody is allowed in that area. Supposedly Woodrow Wilson was afraid the the US Dollar, which then was backed by gold, would collapse since this gold deposit far exceeded the total amount of gold found up until that date and therefore the news of this massive gold find was squelched and control of the Grand Canyon was turned over to the Federal Government.
Biden's policies are wretched but have little to do with current production rates. I am a geologist. I could go into specifics, but there's spin both ways. Biden's policies will affect future production, not current. Much of the current malaise is due to rolling hedge policies that are just starting to burn off from covid. These are "insurance" banks place on production for lending in the oil & gas industry. Due to this, many companies have been budgeting within cash flow. Right now, many companies are upside-down on their hedge positions and not realizing the full price you hear on the news.
And no, Trump did not cause the big increase in oil production during his administration. That was just good timing. The industry had been researching and figuring out new ways to increase production in West Texas. I was a part of it. Before 2016, much was still unknown. After that, a land grab ensued. As part of the terms of an oil & gas lease, there is an expiration. If you drill on a lease, it will be held by production (and not expire). The run-up in production during Trump's administration was caused by companies (using debt) trying to secure as much of their leasehold as possible.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=m
Not the redpill you seek. Just a coincidence.