I think Jen Psaki said something about how there are oil leases out there which haven’t been used yet? The implication being that there is no need to increase production because oil drillers aren’t drilling everywhere they can be drilling?
At these prices, an oil driller would tap a well in Giants stadium.
The oil company execs put out a response to this, available if you look for it. My take away was that the leases were ether worthless fields or in process. They regulatory environment made it impossible to produce more with what they had. They said they needed regulatory relief and access to capital from banks. Apparently banks are worried that financing oil production will cause the earth to explode into a fireball.
Except for one thing.
They placed restrictions on them. Impossible to drill and get into production.
Dont believe anything these scum sucking turds in this administration are saying.
If no new pipelines are allowed to be built how will the oil and gas get to the refineries?