RE:FIRST Sing it sister.
All my project budgets are being flashed up to account for escalations in material, labour, and equipment prices. In some cases we are 40% higher costs than historical metrics.
All our contractors are demanding increasing travel and perdiams. Rightly so.
Certainly won't be buying back any shares with free funds from operations stifled at $65 WTI.
Maybe decision to wait to refill SPR is a sign administration is confident oil prices heading lower. And I trust they have levers to pull to realize that prediction.
Hopefully this demonstrates how quickly things can change and reinforces resolve in companies to not grow production. Just maximize free cash flow and return to shareholders (who are taking all the risk).