He cancelled a major pipeline his first day in office and cancelled a million acre oil and has in Alaska last week. Not sure how anyone can say his policy is doing anything but hurt the current supply.

lets say biden did not do those things.
u think price of oil would be lower today ?
u think oil industries are sad oil prices are high ?

Yes. Presidents make very little actual difference other than that it is nice to have someone to complain about.

I think presidents make a significant difference, although that difference may not be immediate and may not manifest in the most obvious ways. We would have more oil production—and oil prices would be cheaper—if producers had years ago built more wells and more transport capacity (pipelines, e.g.). But they didn't want to build more because so often their investments got tied up in years-long court-ordered injunctions because an activist judge determined the pipeline violated some group's rights. Or the EPA stepped in and demanded another three years to complete an "environmental impact statement." Who appoints these judges and agency heads? The president.

Imagine being an E&P today—would you want to invest millions at a new site knowing it will require extending a pipeline and therefore need the consent of judges and regulatory agencies? How about if the president was pressuring his party members in congress to institute a "windfall profits" tax, so that once you finally start making money on your risky investment, the government confiscates an outsized portion of your upside? Would you want to invest in more production if the president were flying to Saudi Arabia to secure more Saudi oil while condemning domestic producers as bad actors for not selling below market rates to help their fellow Americans?

This stuff matters. And the above is just a couple pieces that are often lost in these discussions, especially among the ******s who vote these society-wrecking scumbags into office.

ESG wasn't created by a President either, but it did come from political ambitions/philosophy and was clearly extremely premature and delusional in a lot of its goals. So yeah, that isn't 1 dude at the top of the government, but if we're being political, it is largely from 1 side of the aisle. There was a faction in this country that wanted us to make all the same mistakes that Germany ended up making.

well its called democracy.
And im glad more people in democracy believe in science compare to those that do not.

They would have drilled more wells if oil prices hadn't tanked (for years and notably below $0 per barrel for a short time). Do you think the previous two administrations tanked the price of oil, making it ridiculously stupid to drill and keep refractories up and running.

Hint: they did not. Drilling and keeping refractories at the ready would have been a ridiculously stupid business decision over the last decade.*

The bottleneck isn't in transportation. It is a production issue and also a production issue.**

*Since this is the important part, it seemed worth mentioning twice

**Same

As I made clear in my post, the regulatory headwinds—which the president has a significant effect on—are one of the causes of today's high energy prices. The COVID shutdowns are another cause. My post was pushback against the claim that the president doesn't have a notable effect on oil prices.

I assume when you say refractories you mean refineries. Transportation is certainly a bottleneck for some producers in some geographies, tipping the balance from a profitable well to an unprofitable one because the cost to get it to a hub eats up all the FCF. Maybe you're just taking a more immediate view of the current situation and I'm referring to a longer time frame.

I will grant you that the effect of the Presidents of one county isn't precisely 0. I will not grant that it is significant compared to normal market forces.

As has been the case for the entirety of my life, the current administration is economically indistinguishable from all the others only by hair style and other unimportant factors (such as meaningless rhetoric). This would be true even if one tried to make a difference as payback periods of four years are pretty ****ing rare.

Are we there yet?

Diversifying bc peak oil?

Qatar is all about nat gas, not oil. And wealthy gulf countries have been diversifying for a long time. Qatar already owns PSG (biggest football team in France), Saudis own Newcastle F.C., UAE royalty owns Manchester City. These guys also own countless other luxury goods stores and real estate in Europe and around the world, and their sovereign wealth funds invest in broad, diversified equities.

And no, we aren't at peak oil. Supply isn't very tight right now, as shown by OPEC+'s recent cuts doing nothing to boost prices, and Biden's contract to start refilling the SPR doing nothing to boost prices. And once China starts devaluing its currency in response to a soft economy, there will be even more downward pressure on oil prices.