“Why aren’t companies bringing back fracking? They were making s killing when oil was $50-$80 a barrel and only stopped when it dropped to under $30 a barrel as it wasn’t economically feasable. Why haven’t they continued this in a huge way?”
The govt problem: Some private lands have been closed to leasing by Brandon. In areas that are open the govt is sitting on lease requests and not moving them forward. Govt is silently closing the areas while calling them open.
The money problem: Producing requires years of work upfront, which requires investment. Since govt is making it so difficult to produce oil/gas, investors have pulled billions from that area and sent it to green energy. Now there’s no way to just “produce more” when the years of prep work hasn’t been done yet.
Govt is at the root of both problems. It wants it this way.
Did you mean to say public lands, or did Biden actually close off private lands, the way Maryland did to fracking during Larry Hogan's first term?