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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 LAblues
Posted on 3/9/24 at 12:11 pm to LAblues
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 on 3/9/24 at 2:43 pm to ksdolfan
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 on 3/10/24 at 8:04 pm to ksdolfan
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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