It is not too late for the Biden Administration to encourage the Department of the Interior to put in place policies that encourage future oil exploration on federal lands. Similarly, the Administration can look into streamlining the currently burdensome permitting process that discourages investment and delays increasing supply. Actions such as these will go a long way towards reassuring stakeholders in the oil and gas industry that the Administration is serious about increasing domestic oil production both now and in the future.

You can read the full commentary in Real Clear Energy.