All those who have hoped that the U.S. shale patch could ramp up oil production quickly to fill the gap that Russian supply is leaving in the Western oil market are in for a disappointment—at least this year. Supply chain bottlenecks from workforce to frac sand and equipment are holding back a surge in America’s oil production, even as the White House has changed the tune in recent weeks and called on U.S. producers to increase output. Production is indeed growing, but not at a fast enough pace to offset losses of global supply…
