The high cost of Biden's anti-energy policies

 Bloomberg:

Oil headed for $150 without US support for more drilling, Shale CEO Says

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Crude output in the Permian Basin will one day peak as it already has in rival shale fields such as the Bakken region of North Dakota and the Eagle Ford in Texas, Continental Chief Executive Officer Doug Lawler said during an interview with Bloomberg TV. Without new exploration, “you’re going to see $120 to $150” oil, he said.

“That’s going to send a shock through the system,” he said on the sidelines of Hamm’s first ever American Energy Security Summit in Oklahoma City. Without policies encouraging new drilling, “you’re going to see more pressure on price.”

Sprinkled among pro-oil presentations from Republican presidential candidate Nikki Haley and Goldman Sachs Group Inc.’s David Solomon, shale executives issued calls for the Biden administration to adopt consistent policies that will allow them to drill more. Failure to do so, they warned, will lead to tighter energy supplies and higher prices.

But the CEOs were quick to note that they have no intention of markedly boosting crude output in response to oil’s march toward the $100 mark for the first time in more than a year.

After touching an all-time high in July, oil production in US shale fields is contracting and government analysts are forecasting a third straight monthly decline in October.

“I hear people say, ‘We’re back up to record levels of production,’” Chevron Corp. Chief Executive Officer Mike Wirth told summit attendees. “With better policy we would be beyond that.”
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I get the impression that Biden is trying to make alternative energy more competitive by restricting drilling and driving up the coast of oil and gas.  His policy is a disaster for consumers and for the economy.  The fact is that alternative energy is unlikely to ever be enough to feed the US economy and that economy will suffer with Biden's energy policy.  

See, also:

 

And:

 (Sen.) Lummis accuses Biden of favoring blue New Mexico over red states in energy policies

And:

 Top Republicans launch probe into Leonardo DiCaprio-funded blue state lawsuits against Big Oil

And:

 Biden’s electric car swindle

Energy Department official admits EV transition is unsustainable