Correct.
Posted on: March 21, 2022 at 11:14:16 CT
Spanky KU
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“Uncertainty stalls investment”
The threat of Biden’s climate policies has chilled some investment in new oil fields and wells.
Biden's federal land policies are deterring capital spending on new wells today, suppressing production below what it would be otherwise.
Biden's continuation of the Obama War on XL also shares blame... the XL pipeline could have encouraged more production of Canadian crude (per the anti-pipeline activists) The 'inconvenient truth' is that production would have meant more oil barrels in North America and added to world supplies.