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re: Biden to replace Russian oil purchases with Venezuelan.
Posted on 3/6/22 at 2:46 pm to gotiger
Posted on 3/6/22 at 2:46 pm to gotiger
quote:
I’m not expert on this, but I would imagine despite the lands being approved the oil industry is less likely to expand production and spend money to do so under Biden than Trump bc Biden could pull the rug from under them any day whereas Trump would be more committed to them in the long term. Idk, just my simple minded thought about that
I mean trump couldn't be more committed to them than 4 or 8 years. Oil companies right now have no incentive to pump more oil. If they do the price comes down and their margin shrinks...
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