Not that the Obamatrons haven’t tried to stop it.
When prices go up, so does supply. When oil producers begin to rely on a $100/bbl price that has remained that way for two years straight now, they begin to make the investments that result in more production.
/johnny
I just came from the BP Whiting, Indiana refinery modernization project. They are building a refinery inside the existing refinery just to handle Canadian Tar Sands.
It is a massive and very impressive project.
And you know zero deplores every barrel of it.
I wish they’d stop saying hydraulic fracturing is new technology, we’ve been doing it for over 50 years and have been fracing for over 100 years. My grand fathers brother was killed outside of Hobbs New mexico back in the 20’s when the 40 quarts of nitro he was hauling to a well site for a frac job blew up. Lets just say they never found him.