O&G production Exploded under Obama.
In fact, so much we had a glut and a crash in price in 2015, (the Saudis turned on the pumps to break us and did)... and again in 2020 because of COVID. Prices actually went Negative both times.
Production is on the rise gain after the C19 crash, but like everything else there is a supply chain problem.
Drillers are still reluctant due to that history.
If the UKR war ended tomorrow (and PutOil let back in) the price of oil/NG would probably crash.
Biden is bowing somewhat to the Left and not selling many Oil leases
but his first year he Blew away Trump's total drilling permits with 3500 vs Trump's 2400.
So many that the left sued his Admin to stop them!
Most of those haven't even started yet. It takes time and scarce materials and labor.
Of course it takes many years between leasing and production, Maybe 5-10 for big ones.
There's a shortage of well workers, shortage of materials to drill, like everything else.
Biden's first year he was not listening to the Greenies.
Now he is more but production is still up and growing
And of course oil is mainly up due to Russia.
That again is worldwide problem for oil (OPEC+Ru), and "Our price" is not just a domestic one but an Intl one as oil moves around, especially ours. Most of our NG goes to EU or Asia.
IAC, the less we/everyone relies on Fossil Fuels the better, not just politically but health wise.
(Why Germany started going green 20 years ago.)
The planet is warming and consequences are starting to be felt worldwide, with much worse ones in the cards.
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