Frackers Hold Back Production as Oil Nears $100 a Barrel - WSJ

The companies said they collected record amounts of extra cash by hanging on to the money they earn selling oil and natural gas and reinvesting only what they needed to keep output roughly flat. All three said they would continue to limit production growth this year.

I wonder why the leadership in this boom-and-bust industry are sitting on the sidelines during this boom?

Those dynamics have alarmed the White House, which has asked U.S. producers to drill more as it confronts soaring gasoline prices and broad inflation.

See, now I’m just confused. Didn’t the Administration cancel Keystone XL and nominate a Fed Governor who said we should stop providing capital to oil and gas and pass massive new subsidies for green energy and…