Oil&Gas development reflects the future, not the past or present.
It takes billions of dollars and multiple years of planning and execution to bring forth new/additional production. When you plan a project you factor in expected oil prices, as well as other risks such as regulation, taxes, and politics.
The Biden Admin and Energy has shut down a major pipeline, is seeking an end leasing on federal lands, pushed for increases in taxes and regulation, and now threatening to ban exports. It is an extremely hostile business climate in which funds needed for oil &gas are leaving the USA to regions/countries where the political risks are less such as Africa.
|
(
In response to this post by bufffantheman)
Posted: 11/11/2021 at 12:47PM