Originally Posted by
marcal
Almost the entire western world has halted purchasing oil from Russia. I don’t believe that ends when the Ukraine war ends. This is why oil is so high. Many more people chasing after way less oil. Oil companies aren’t voluntarily holding back exploration in the US, they’re being told they can’t. Perhaps that will change.
Energy companies have been told by the Federal Government that there is a shelf life for the current energy production methodology. So it doesn’t benefit them to invest any more resources to it. Also, it wouldn’t have any immediate impact on energy prices in the next couple years. Increasing supply is a challenge.
The ironic thing about everyone beating the Green Energy drum is that the current situation is pushing European nations back towards coal. Far far worse for the environment.