Mohamed El-Erian says the Fed’s inflation screwup will ‘go down in history’ — but he’s using these 3 stocks to take advantage

Reuters

Shale oil’s slower investment sparks new tension with White House

As the Biden administration and allies scramble to deliver more oil to market through stockpile releases, shale producers are tapping the brakes on reinvestment, according to new data, a sign of the widening split between U.S. oil companies and Washington. That restraint has become the latest friction point between oil producers and the White House. On Tuesday, President Joe Biden launched coordinated oil stockpile releases with China, India, Japan and South Korea after efforts to cajole OPEC and U.S. producers to speed up production failed.