RE: But if the oil producers think demand is going up they’ll invest the money to increase production.
Regardless of Biden’s threat to limit oil production?
Biden has OPENLY stated that he wants to end our use of Fossil fuels.
See here:
https://m.youtube.com/watch?v=viAXGth3gQA
And here:
https://apnews.com/article/9dfb1e4c381043bab6fd0fa6dece3974
Now, there are several ways oil producers can interpret this:
1. Biden is simply playing to his Green base but isn’t really serious about it.
2. Biden REALLY wants to eventually end fossil fuel use.
If #1, then I can see how producers can still take the risk of investing. But if it’s going to be #2, they’re going to be risking another Keystone Pipeline debacle.
Biden has OPENLY stated that he wants to end our use of Fossil fuels.
And that absolutely inhibits production. But these producers are looking way beyond any potential Biden term.
A large part of the world is at least giving lip service to reducing fossil fuel use and that's taken into account.
Again, the future prices, which are what matter when deciding whether to invest, are only mildly impacted by US energy policies.