After years of divestment, oilfield equipment supply is running especially low. Halliburton’s CEO Jeff Miller is warning that oilfield equipment market is so tight that oil explorers are already discussing 2023 projects. Miller noted that diesel-powered and electric equipment are in short supply, “making it almost impossible to add incremental capacity this year.” Fracking, or hydraulic fracturing, is an oil extraction technique that involves high-pressure water blended with sand and chemicals, forced into underground rocks known as shale to capture oil and gas. The process was revolutionized by horizontal drilling in the 1980s and 2000s, transforming America into the world’s largest oil producer overnight. American shale drillers have shown how quickly they can boost oil production over the years. But after several years of divestment and decarbonization, the days of fracking roaring back to life are over. Halliburton Co.’s CEO Jeff Miller confirmed this to analysts during a conference […]