Replies to post #197385 on DD Support Board and Research Team

[BullNBear52]

Read the whole article.

When he first took office, Mr. Biden suspended new federal oil and gas leases. Mr. Landry and other Republican-led states challenged the ban, and a different Louisiana federal judge ruled in their favor — forcing the Biden administration to move forward with lease sales. It complied, opening more than 80 million acres in the Gulf of Mexico to oil and gas drilling, a record amount.

There are 9000 leases that have been currently awarded. Why are the oil companies not drilling.

Simple, they make more money holding back the supply.