If I had my own oil company, I would name it "Big Oil".
Then I would demand retractions every time someone used the phrase.
Yes, Virginia, there are some really big oil companies, but far more smaller ones. The big ones making bank have major investments around the globe, and can drill in places Biden can't reach, where people actually want oil and Gas to be produced.
In the US, over 50% of the land west of the Mississippi, the continental shelves, Gulf of Mexico, and most of Alaska are Federally controlled, and as a result of law defying leasing policies of the Biden Administration, there are fewer places to drill, despite reserves being there. If you can get the lease, you still have to get permits to drill, build production infrastructure, and have the ability to transport that oil or gas to refineries and processing facilities. The administration has obstructed such progress at every step.
The down side of this is that only part of the pain is being felt. As existing wells deplete, there will, even with an administration that is friendly toward the idea of producing our own, be a period when there will be less production before exploration and development can catch up--another price spike to fuel the next 'boom', before we can regain energy self-sufficiency through bringing new production on line.
We drill tomorrow's oil today, but today is not happening like it should in order to restore and maintain production levels in the future at a pre-COVID level.
