Why drill more than you have the capacity to refine? Oil companies have no desire to drill more than they need to and who can blame them.
Drilling isn’t the problem.
Exporting it is.
“Why drill more than you have the capacity to refine? Oil companies have no desire to drill more than they need to and who can blame them.”
Yes, the article made good points but didn’t touch on this problem. Oil producers can’t afford to store oil while it wait to be refined. Doing so would increase the price at the end point.
The assault on oil is multi-faceted and until it is beaten back we will pay higher prices for everything except housing, which has already entered decline in most areas due to mortgage rates running higher to fight the inflation caused by the leakage of oil/gasoline/nat gas/diesel prices into everything we buy.