Originally Posted by
SideStickMonkey
If by lack of production you mean refining capacity, you would be correct. There’s plenty of oil in the ground that we have access to, it’s the lack of ability to refine it that’s the choke point.
Agreed there is plenty of Oil. However to maintain or grow production requires capital investment which has been rather limited over the past view years due to ESG type rhetoric depressing Energy equities there companies did not reinvest back into the business due to poor return on capital. This puts pressure on supply as it will take a couple years for every dollar of capital investment today to materially increase supply.