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Why aren’t oil companies drilling on their 9,000 land leases?

Back in March, as Russia’s invasion of Ukraine was sending the price of oil sky-high, President Joe Biden noted that the oil and natural gas industry has 9,000 permits to drill that it isn’t using. In other words, 9,000 chances to increase the supply of oil and gas — and drive down prices…

Photo by Zbynek Burival on Unsplash

This post was originally published on this site

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