Activist Investor Urges More U.S. Shale Production. The founder of the Engine No. 1 activist investor that challenged ExxonMobil’s strategies and won seats on the supermajor’s board last year, is calling for more oil supply from the Permian basin to reduce dependence on foreign suppliers.
The Permian and the U.S. shale patch as a whole are “arguably the most transition-aligned oil and gas production today” because of the quick-turnaround with high returns compared to long-duration capital-intensive projects, Christopher James, Founder and Executive Chairman at Engine No. 1 wrote in an opinion piece in The Wall Street Journal.
Following the Russian invasion of Ukraine, and the U.S. ban on energy imports from Russia, officials, and politicians have changed the tune to the U.S. oil industry, saying that boosting supply from America is providing for its energy security. The U.S. oil and gas associations have been sending that message to the market and to policymakers for years.
( In a blink of an eye,funny how things changes )