It has EVERYTHING to do with it. It is the primary driver
Posted on: January 18, 2022 at 13:19:21 CT
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right now. Just because people are back to work doesn't mean that everything in the supply chain is back to normal. Practically no wells were drilled for over a year. It's absolutely going to take time to bring production back on line.
Biden has barely been president long enough to impact the drilling of a single well. He certainly hasn't had an impact on the planning cycles, rig contracts, leasing, drilling, hook ups to production, pipeline construction etc... These are things that take 1-3 years (or longer). It's not like you can just walk out to the field and turn on the spigot.