Let’s be fair, yes the current administration has done all it can to discourage, obstruct, and tax the energy industry (that’s factor 1). Factor two is ESG ini

Let’s be fair, yes the current administration has done all it can to discourage, obstruct, and tax the energy industry (that’s factor 1). Factor two is ESG initiatives starving the sector of financing/investors. Factor three is other shareholders demanding cash returns after seeing tons of capex get burned the last go around. Factor 4 is the industry turned off during Covid (didn’t get a bailout like airlines) and now has to ramp back up. Don’t ask me to weight these but like the argument around what caused inflation it’s not one thing, but several working in concert.