President Joe Biden has repeatedly urged U.S. oil companies to step up production in a bid to increase oil supply and ease fuel prices. However, it appears his pleas have been falling on deaf ears considering the dearth of oil and gas exploration--which is, of course, perfectly understandable given his historic hostility toward fossil fuels as well as the very real risk that new drilling won't pay off over the long term. When the energy crisis hit a nadir two years ago, highly indebted oil and gas companies quickly changed their playbook, adopting…
