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Reply to "$7/gallon gas is coming"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][twitter]https://twitter.com/tomselliott/status/1500808667100286979[/twitter][/quote] Domestic Producers have no plans to invest in domestic capacity, even at these high prices. They know the long term trends - move to electric vehicles, better efficiency in ICE, big leaps in battery tech - make their domestic investments moot in a couple years. It’s not enough time to recover the CapEx. Further, a huge number federal land leases for drilling are not being used by the industry. They are just sitting on them, doing squat. Time for Biden to grab the bully pulpit.[/quote] Of course they don't thanks to the left's war on oil. If this administration would change their policies and rhetoric, the pumping would start in earnest. [/quote]
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