US inflation jumped 7% in December as prices rise at rates unseen in decades, page-37

Fair enough and your informed comment on Sovereign Risk is quite correct.

Maybe they will delay, maybe they won't, maybe they have a longer investment decision timeline than one Presidential election to the next.

"And finally, this - overseas or domestic sales from Keystone XL ?"

So, stopping Keystone XL had no effect on domestic prices ?

https://www.nrdc.org/stories/what-keystone-pipeline


"No one will invest in exploration knowing that even if you are successful you may never see a return"

I know the effects of Government policy on exploration first hand.

As an exploration geologist I once had the task of cleaning up an abandoned uranium exploration camp & testing plant near Broken Hill.

Quite eerie. Plans all over the desks, empty coffee cups with evaporation stains and desk calendars on March 1983.

Bob was elected 11th March 1983. They abandoned the project, locked the gates & drove away shortly after.

The project (Honeymoon) was resurrected under a different Government in 2011 & then went back on care & maintenance in 2013 (prices, not policy).