Bloomberg Mar 31 - Oil Drillers Say Scarce SteelTough to drill when you don't have the materials...here is another example...but by all means use inventory to solve the production volume shortfall LOL
DId someone tell Biden?
Reference:
https://www.bloomberg.com/news/articles/2022-03-31/oil-drillers-say-scarce-steel-is-one-reason-for-flat-u-s-output Oil Drillers Say Scarce Steel Is One Reason for Flat U.S. Output
Add steel shortages to the growing list of reasons U.S. shale producers aren’t raising output as fast as needed amid a global energy crisis.
To drill more wells, they need steel tubes to line the inside of the holes and get the crude out. Those pipes have become more expensive and scarce. Oil and gas producers also have to boost wages to find and retain workers. They say those higher expenses, along with Biden administration’s tough environmental policy and investors’ pressure to keep costs under control, make them reluctant to ramp up production