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Original Message
Nope
Posted by Bromo33333 on May 12, 2022 at 09:06:09:
Nope. Right now the oil companies are not even ramping up production in their current fields let alone the leases that have them covered for known reserves for 10 years of development.
There is a manpower and equipment shortage that was brought about by the negative oil prices in 2020 and the mass layoffs (and this was a big failure of the previous administration, who could have targeted oil production companies)
Right now they get insanely high prices for their product and for them that's just fine. At least for now.
It is clear that the Biden administration isn't from the oil patch, but this lease thing is a nonissue