
The industry is in their element when prices are around $100/bbl. When it falls to $50/bbl. they close up shop. So having lease sales in a sinking market may not yield the promises of “Drill, Baby, Drill.”
The expansion of a fossil-fueled global economy over the last century has driven an historically unprecedented growth in global prosperity, technological advancement, and improvement in life-quality for a plurality of our planet’s human inhabitants. Unfortunately this phenomenon has falsely correlated…