re: Biden bans Russian oil imports, then tells the Lie of the Decade

quote:

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Just him being there is bad for domestic oil. His perceived unfriendliness to domestic o&g curbs development and spending. He could just be there and say/do nothing, and it'd still be bad.

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This is correct. Threat of regulation is a market force, he threatened regulation before he was elected and his administration has pushed electric cars as the answer to the gas price spikes. They have not signaled anything to help domestic production, the OP supports this as well because he is simply saying he isn’t holding production back, not what he has done to advance or incentivize production.