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I think people already knew that oil faces political headwinds because of global warming--which fewer and fewer people deny is happening, because they can see i
by jonnycomputer 4y ago
I think people already knew that oil faces political headwinds because of global warming--which fewer and fewer people deny is happening, because they can see it for themselves..
Besides, from what I've read, Biden's executive action pause on new leases was overturned in court by June 2021. Figure 1 of this page (https://www.citizen.org/article/bidens-oil-letdown/ https://www.citizen.org/article/bidens-oil-letdown/) doesn't seem to indicate any real slow down in new oil leases [if someone has a more neutral source, I'd be happy to see it]. In any case, only about a quarter of US oil production is on federal land.