President Biden’s calls on OPEC to increase production were received rather negatively by the U.S. shale patch which believes it can take care of the supply problem While some observers may see this as the shale patch being political, the reality is that shale drillers are actually reacting to both profit and fear Shale companies are making more profit than ever before and, while they are happy to help Biden bring the price of gasoline down, are eager to avoid another oil price crash When President Joe Biden first called on OPEC to increase production earlier this year, he drew an angry response from Texas Governor Greg Abbott, who told Biden to “back off” and let American companies take care of the supply problem that was pushing fuel prices higher. The awkward relationship between the current administration in Washington and the oil industry, which tends to lean to the […]