Biden has declared war on fossil fuels. The oil and gas industry is acting accordingly. They are not going to make major capital investments in the current climate. And they now have to deal with a woke banking industry. The developed world has gone insane over climate change. Our political elites are ignoring the impact on the middle class.
Absloutely true! About all we can do is hold their feet to the fire whenever possible.
The same is not true in the Middle East - Lots and lots of new oil and Gas development by the Middle East players, Many are putting in new platforms. However the Saudis are working overtime to make sure that the price of oil stays in the $100-$120 range