President Trump’s encouragement of his “drill baby drill” promotion for U.S. oil and gas production might not be welcomed totally with open arms by the industry.
It’s not that the industry doesn’t welcome the support, especially after more than 3 years of being attacked by the Biden administration, it’s just that the idea of drilling and producing more oil isn’t perhaps exactly what they want.
Instead of more oil production, many are far more interested in in profits. They prefer lower drilling costs which can translate into profitable drilling. They also desire more free cash flow rather than increased cap-ex. Cheaper production of the oil and more returns, according to The Guardian which explored the issue.
Click here for The Guardian
