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re: US crude output to rise to record 12.76 million bpd in 2023
Posted on 8/11/23 at 9:36 am to Fat Bastard
Posted on 8/11/23 at 9:36 am to Fat Bastard
quote:
yup. trump kept us working while keeping prices lower at the pump but not so low so they stopped drilling/making profits.
All those companies that went bankrupt 14-21 would probably disagree...the industry is substantially smaller and none of it has to do with either president. This idea that Trump managed oil price is absurd. The price collapsed because the Saudis opened the flood gates in 2014 and never really let up. They just managed the forward curve to try to kill the shale industry. Trump was simply president when that was going on. That era nearly killed the service side, which it appears you and supa are part of...it is notable that Trump did beg the Saudis to produce more and lower prices further.
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