So what oil project except the Canadian pipeline that would possibly be built sometime end of the decade did the new admin stop to cause the oil prices to skyrocket?
From what i can tell Saudi war on shale seemed to peter out without a clear winner that was followed by a Saudi Russian oil pissing contest, both events meant a glut of cheap oil for all of us and a bunch of bankrupt shale drillers but it seems it was the covid lockdowns and economic slowdown that ultimately broke the shale oil.
Of course, high oil prices mean that shale is coming back again, there is just a considerable lag to whole supply vs demand.
With publicly traded producers such as Occidental and Chevron preaching discipline, privately owned operators are leading the surge in production.
www.bloomberg.com