

The problem is that the oil companies don’t want to. The real timeline for actually producing oil is like ~10y. And who knows what demand will be in 10y. Even if they could magically transport it out of the ground tomorrow, oil is already cheap and pushing it down would bankrupt half of Texas.
America is an energy exporter, the days of “addiction to foreign oil” don’t apply anymore.



The oil companies don’t want to invest because in 10y when production recovers, who knows what oil prices will be? Even if they could pump it out tomorrow, Oil is cheap, and driving it down would bankrupt American oil production.
The logic of “addiction to foreign oil” is outdated. America is an energy exporter.