Oily Stuff

My take on this refusal to drill baby, drill, in spite of higher oil prices, is inability. 
The tight oil sector is still deeply in debt, does not have a lot of cash on hand because of interest on long term debt and dividend payments to investors and will have to borrow more money. But is has to impair this year, 2026, because of SEC mandated oil prices for PDP determinations. Its debt-to-equity sucks and is going to get suckier at the end of the year. Sure, its worried about price volatility, got that. But it's got no money to put 50 more rigs to work. The banks will give them what's left in RBL LOC's, reluctantly, but no mas.
And, honestly, I believe these guys are scared to death about remaining drillable Tier 1 and 2 locations that are deteriorating rapidly now from pressure depletion. Nobody is actually going to say stuff like that in a poll, even anonymously, because they have to maintain the illusion of plenty for exports, to calm the masses, and make their lenders and investors stay on board.