Major Oil Producers Insulated from Biden's Leasing Ban

The biggest U.S. oil producers operating on federal land have years' worth of drilling permits and don't expect much to change in the short to medium term if President Joe Biden moves to ban new oil and gas leasing on federal land and waters. The small independent shale drillers, however, especially those that have a large part of their operations coming from federal lands, are concerned, and some think that the U.S. Administration banning new federal lease sales could pose an "existential threat" to their companies, shale executives told Reuters…