China and Russia are weak at oil fracking, so investors there can make a case for going after expensive, extreme-weather conventional oil plays, instead.
The USA, in contrast, can obtain *all* of the oil we need via domestic oil fracking.
Technology. We’ve got it. Resources: we’ve got them.
Y’all have fun drilling for oil in the Arctic Ocean. It’s cold there. Brrr...
I was formulating a similar answer.
Things break. Things go wrong. Bad place to have an accident.