Democrats are fooling themselves about a green energy revolution, writes James Rogan. Nimbyism, permitting delays, and supply shortages all make a joke of the Biden administration’s goal to transform the U.S. economy from black carbon to bright green.
,"Shale producers have kept a lid on supply amid pressure from shareholders to maintain capital discipline and use profits for dividend payments and buybacks rather than for pumping up production." Shale oil producers are hesitant about new investment because oilfield services inflation is the highest in a decade or longer. As Wood MackenzieBut Biden shares significant blame for the situation.
Because of his ideologically motivated war on the domestic fossil fuel industry, shale oil producers hesitate to invest. Shale oil producers want to see how the political landscape shifts after the Nov. 8. In addition, by releasing evermore oil in an effort to lower gasoline prices, the Biden administration discourages new production. Producers become uncertain about the supply-demand outlook. Producers hesitate. Strategic Petroleum Reserve releases muddle the pricing signal.
Democrats are fooling themselves about a green energy revolution. Nimbyism, permitting delays, and supply shortages of critical metals
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