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re: What industry “secret” do you know that most people don’t?

Posted on 3/9/24 at 12:11 pm to
Posted by ksdolfan
Houma, La.
Member since Sep 2007
1551 posts
Posted on 3/9/24 at 12:11 pm to
Democrats are better for oil production companies than Republicans. They want to reduce drilling which reduces supply causing an imbalance of supply and demand driving up the price of oil. Which oil production companies love! Not necessarily good for us consumers though.
Posted by KK
US
Member since Nov 2010
59 posts
Posted on 3/9/24 at 12:35 pm to
Absolutely true.
Posted by ned nederlander
Member since Dec 2012
4372 posts
Posted on 3/9/24 at 2:43 pm to
quote:

Democrats are better for oil production companies than Republicans. They want to reduce drilling which reduces supply causing an imbalance of supply and demand driving up the price of oil. Which oil production companies love! Not necessarily good for us consumers though.


Is this at all true? Looking back over the last 40 years, US oil production was flat during the Republican led 80s, declined year over year under both Clinton and W, and starting increasing dramatically under Obama, continuing through Trump (Covid blip notwithstanding), and is currently at all time record highs under Biden.

It seems that neither party correlates to oil and gas production.
Posted by Nado Jenkins83
Land of the Free
Member since Nov 2012
59896 posts
Posted on 3/9/24 at 10:36 pm to
Truth.

Posted by Penrod
Member since Jan 2011
40132 posts
Posted on 3/10/24 at 8:04 pm to
quote:

Democrats are better for oil production companies than Republicans. They want to reduce drilling which reduces supply causing an imbalance of supply and demand driving up the price of oil. Which oil production companies love! Not necessarily good for us consumers though.

This is dead wrong. A common misconception. The Democrats torment the oil companies. It’s true that they reduce supply, as you said, and prices go up, but there are many bad things that occur for oil companies when that happens. For example, a long term lease on a drill ship becomes a cost that will never yield revenue.
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