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Bloomberg

Big Oil Spends on Investors, Not Output, Prolonging Crude Crunch

(Bloomberg) — Big Oil is raking in historic amounts of cash, but the windfall isn’t being invested in new production to help displace Russian oil and gas. Instead, executives are rewarding shareholders — setting the world up for an even tighter energy market in the years ahead.Most Read from BloombergElon Musk’s Fixer Is Quietly Tending the World’s Biggest FortuneRussia Can’t Shake Default Risk After Last-Minute Bond PaymentTo Save Democracy and Defeat Putin, Give Up ‘the West’Heirs of Hitler’

The Great Resignation, meet the Great Reset

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