Quote:
Originally Posted by MartinSE
You are correct, I used the wrong term, any bad. But, it still remains that oil companies are NOT applying for permits. They investors they use to finance drilling new wells do not want them to drill new wells. It is NOT Biden's rules that are stopping them. They have the option to increase production and they do not want to.
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Since you (once again) brought politics into the discussion, I'll reply...
The current admin is not giving PERMITS to drill. They are not giving PERMITS to expand pipelines/roads, etc, to move any oil that is found.
Banks have significantly DECREASED investments in fossil fuels as of 2021...
Bloomberg - Are you a robot?
The question is WHY they are decreasing investments... I'll let YOU figure out the answer...