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SamSpade

Joined: 09/01/1996 Posts: 6583
Likes: 4377


It is a government issue....


"President Biden has effectively accepted the idea that the United States will rely more on foreign oil, at least for the next few years. His administration has been calling on OPEC and its allies to boost production to help bring down rising oil and gasoline prices, even as it seeks to limit the growth of oil and gas production on federal lands and waters.

The administration’s approach is a function of two conflicting priorities: Mr. Biden wants to get the world to move away from fossil fuels while protecting Americans from a spike in energy prices. In the short run, it is hard to achieve both goals because most people cannot easily replace internal-combustion engine cars, gas furnaces and other fossil fuel-based products with versions that run on electricity generated from wind turbines, solar panels and other renewable sources of energy.

Western oil companies are also under pressure from investors and environmental activists who are demanding a rapid transition to clean energy. Some U.S. producers have said they are reluctant to invest more because they fear oil prices will fall again or because banks and investors are less willing to finance their operations. As a result, some are selling off parts of their fossil fuel empires or are simply spending less on new oil and gas fields." NYT 10/14/21

Do you really think the oil and gas companies are constricting production to spite Biden? Their whole industry has been threatened and they have to react to real world conditions for self preservation.

(In response to this post by cswilliam)

Posted: 10/15/2021 at 07:20AM



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Current Thread:
  Those oil and gas guys are screwing America right now. -- cswilliam 10/15/2021 01:16AM
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  It is a government issue.... -- SamSpade 10/15/2021 07:20AM
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