Oil in the ground isn’t rotting, but it is finite so the logic isn’t so obvious. Especially because new local drilling has minimal impact on wholesale prices.

Oil in the ground isn’t rotting, but it is finite so the logic isn’t so obvious. Especially because new local drilling has minimal impact on wholesale prices. If you expect future prices to spike then the wise choice is to avoid drilling until you can maximize gains. If you expect future prices to remain unchanged then the wise choice is to avoid harming your local environment and have other countries despoil their own. Only if you expect future prices will tank does drilling become a good idea.