Read full articleBiden administration officials have been publicly and privately cajoling energy executives to increase production and help lower gasoline prices, which are well above $4 per gallon. Asking won’t work, however. Even if they ask nicely.Oil and natural gas producers base drilling decisions on economic factors and profitability estimates, not on requests from politicians. If President Biden wanted to, his administration could adjust federal policy in ways that would make fossil fuel investments less risky and more profitable, which in turn would boost the incentive to increase...…Read full articleBiden administration officials have been publicly and privately cajoling energy executives to increase production and help lower gasoline prices, which are well above $4 per gallon. Asking won’t work, however. Even if they ask nicely.Oil and natural gas producers base drilling decisions on economic factors and profitability estimates, not on requests from politicians. If President Biden wanted to, his administration could adjust federal policy in ways that would make fossil fuel investments less risky and more profitable, which in turn would boost the incentive to increase...WW…