(06-03-2026 11:35 AM)Eagleaidaholic Wrote: Because the oil companies increased productivity on the wells they had. Already discussed. They were actively being pushed out of business by the sitting POTUS. And those numbers have been surpassed plus millions of barrels coming in from Venezuela. Irrelevant to the facts that fuel prices went up because we had an administration that wanted to do away with it.
Biden talked a big game about being anti- fossil fuels -- mainly because of his base.
And no, US domestics were not being pushed out of business by the Biden admin. There was a ton of talk, and very little action.
And the policies that Biden did implement re: US production were actually helpful to the domestics. Both larger multinationals, the mid majors, and the small one.
Ive known very well and for a long time four of the chairmen of TIPRO in the last 20 years, and 5 of the twenty current directors. And about 30 folks from the directors over the last 20 years.
As well as the founders of the most preeminent O&G data and analytics platform around. While they all bitched about the comments, to a tee all of them agree that almost no material impediments were tossed against the US O&G sector during the administrations of those 2.
Biden and Obama knew their bread was pre-buttered and couldnt stop the private property rights that form the strength of the US domestic production, nor could they impede the technological transformations of the US domestic industry that started in the early 2000's,
Nor did either ignore the strategic and national security importance of having a strong energy policy.
You are fundamentally incorrect in the bolded above. Many of the Biden administration comments admittedly were negative -- but think of who the Democratic base includes. The negative comments were never accompanied by strong regulatory action.
So ******* ignorant. Not how any of this works. The O&G industry doesn't react to political campaign propaganda like that, they react to actual legislation, etc.
