Former Speaker of the House Paul Ryan hopes his SPAC deal with a U.S. oil producer is 'great for jobs, great for foreign policy' and 'great for bringing inflation down.'
The deal gives investors access to private oil operations in all major American basins including the Bakken, Eagle Ford and Permian, Ryan explained.
"We think it's a great investment. It's a scaled firm, great management team, no debt and good free-cash flow," Ryan said. "We're just excited about the future for this, and it's a good bet on American oil and gas." In addition to the powerful Middle East oil cartel, the Organization of the Petroleum Exporting Countries announcing massive production cuts, major petroleum refinery snags, and policies disincentivizing more fossil fuel production or nationwide refinery capacity have contributed to the price uptick,
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