Daily on Energy, presented by Bipartisan Policy Center Action: Oil company restraint looking better after this week

RESTRAINT VINDICATED? The case for oil company capital discipline looks a little stronger this week after prices plunged in the face of high-profile recession warnings.

Raoul LeBlanc, vice president for energy at S&P Global Commodity Insights, described the kinds of risk assessments that companies are considering: “If you were to try to hedge, you can only get $100 for a couple of months, and you'll never drill your well and get in online in that time,” LeBlanc told Jeremy. “So the actual price that people have to invest based on is being assumed to go down.”

More of the same: Diamondback Energy announced plans this week to increase its base dividend further. Welcome to Daily on Energy, written by Washington Examiner Energy and Environment Writers Jeremy Beaman and Breanne Deppisch . Email jbeaman@washingtonexaminer.com or bdeppisch@washingtonexaminer.com for tips, suggestions, calendar items, and anything else. If a friend sent this to you and you’d like to sign up, click here. If signing up doesn’t work, shoot us an email, and we’ll add you to our list.

The Biden administration hasn’t been willing to send such long-term signals. Granholm stressed on Wednesday that the way out of this is breaking “that sole reliance” on fossil fuels.

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