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by adam_arthur
1476 days ago
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US oil companies don't invest in new supply because you can't model a 10y return on your projects when the government could ban/heavily tax them sometime over those next 10 years. So yes, a Democratic admin that cancels projects and talks about windfall tax on oil company profits does disincentivize new supply and raise the cost of oil/gas. The net result may be even worse greenhouse gas emissions as poor countries turn to coal as a cheaper alternative to Oil. The energy transition needs to be responsibly managed... a cold cutover will backfire in a huge way, as I'm sure we'll see in November |
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