Biden administration to cancel Alaska oil drilling rights sold by Trump

The energy business (especially oil and gas) is made up of long-term projects. This means that it takes a decade or more to bring a well into production and more decades to pay for the investment. If every 4 or 8 years decisions about those leases are reversed, nobody will invest anymore. This means that there will be even more investment into shale as shale does not need those decade-long payback periods. Is Biden inadvertently doing shales bidding? 

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