The liberal left is now in charge in America and they have a climate change and renewable energy agenda that is going to rattle our country to its core. Make no mistake about it, there is no room in that agenda for hydrocarbons. The first day of Biden's presidency, when he canned Keystone and suspended BLM drilling permits, was just the tip of the iceberg.
For the oil industry taxes will increase, banking and Securities and Exchange Commission rules will change, incentives to drill wells and reduce taxable income will get the axe and the cost of regulations, particularly how they pertain to the environment, are going to go sky high. It matters little as to what this will do to the price of oil, the national debt and the cost of living across America...
Its pay back time.