Oil production

While Biden was campaigning he promised to promote the new green deal and after he was elected he put people, who were opposed to fossil fuel, in positions of authority. The result has made it more difficult for oil companies which many say was the purpose. New regs make it more difficult to get permits and banks are hesitant to loan money to oil companies. The Blackstone group will no longer finance oil companies. This means 500,000 barrels per day. The five year leasing program for the Gulf is ending and the administration has said they will not renew. Biden is merely fulfilling his campaign promise. This was done to satisfy the demands of the new green deal people. Some say the oil companies do not want to produce more but when oil is over $100 per barrel this is hard to understand.