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re: ‘Drill, Baby, Drill!' Will Secure American Prosperity For The Twenty First Century
Posted on 3/12/24 at 7:39 am to Motownsix
Posted on 3/12/24 at 7:39 am to Motownsix
quote:
Wasn’t Trump the worst energy president in recent memory? Cheap foreign oil bankrupted the US energy sector all four years of his term. Thousands of US companies went bankrupt and billions of US dollars in investments were lost.
But I’m sure he’ll do better next time.
Global covid lockdowns, especially in China, caused demand to go down and a number of refineries to shutdown forever, here in the USA.
2
Posted on 3/12/24 at 8:31 am to CitizenK
“Global covid lockdowns, especially in China, caused demand to go down and a number of refineries to shutdown forever, here in the USA.”
before covid the saudis went on an attack to drive a lot of smaller oil companies out of business because the price of oil was very high and lots of small time producers getting into the business and stealing Saudi market cap..
saudis were successful in driving a lot out of business by flooding the market… then covid and even less demand… saudis have done this is the past and would do it again if required.. however as op said.. the unconventional oil/gas companies are using more tech and knowledge from past and producing more at better cost..
Reality is .. it is economics not politics…
Worked the GOM during the boom and worked it when we called it the Dead Sea.. …price of oil drives it.. not politics
before covid the saudis went on an attack to drive a lot of smaller oil companies out of business because the price of oil was very high and lots of small time producers getting into the business and stealing Saudi market cap..
saudis were successful in driving a lot out of business by flooding the market… then covid and even less demand… saudis have done this is the past and would do it again if required.. however as op said.. the unconventional oil/gas companies are using more tech and knowledge from past and producing more at better cost..
Reality is .. it is economics not politics…
Worked the GOM during the boom and worked it when we called it the Dead Sea.. …price of oil drives it.. not politics
Posted on 3/12/24 at 5:35 pm to CitizenK
quote:
Global covid lockdowns, especially in China, caused demand to go down and a number of refineries to shutdown forever, here in the USA.
Now explain the other three years where 600+ US energy companies went bankrupt.
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