Crony capitalism at work
The Biden administration working with large oil companies has changed the rules for offshore oil exploration that will essentially affect only the many small companies involved, but not the large ones, increasing their costs. The result is expected to be less oil production, higher oil costs, fewer jobs and lower GDP.
https://functionalgovernment.org/wp-content/uploads/2024/05/BOEM-Records-FA.pdf
https://x.com/optimistcskeptc/status/1796519045899911506?s=46&t=Y4fVsDnz2q8uZ3VNKeco4A