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Posted on 3/11/24 at 9:11 pm to bayouboo
quote:
Aren’t oil companies drilling at record levels now?
Cults don’t tend to acknowledge uncomfortable facts.
Posted on 3/11/24 at 9:25 pm to bayouboo
President Joe Biden has followed through on a campaign pledge by introducing a moratorium on new oil and gas leasing on federal lands and waters
Biden White House takes aim at oil and natural gas with major new emissions rul
Biden admin hit with legal challenge over historic restrictions on offshore oil drilling
Biden admin unveils latest crackdown on oil and gas industry at UN climate conference
Biden's moratorium on natural gas exports could crush small businesses
. . .
Biden White House takes aim at oil and natural gas with major new emissions rul
Biden admin hit with legal challenge over historic restrictions on offshore oil drilling
Biden admin unveils latest crackdown on oil and gas industry at UN climate conference
Biden's moratorium on natural gas exports could crush small businesses
. . .
This post was edited on 3/11/24 at 9:25 pm
Posted on 3/12/24 at 5:18 am to bayouboo
quote:
Aren’t oil companies drilling at record levels now?
Not drilling at record levels, but PRODUCING at record levels, yes. Efficiency with shale has gotten to the point there’s no need to have the number of rigs working that we did several decades ago.
The technological advances, along with legislation passed in 2015, is a big reason why we’ve been a net “total petroleum products” exporter since, I think, sometime in 2019.
This post was edited on 3/12/24 at 5:21 am
Posted on 3/12/24 at 5:26 am to bayouboo
They’re still busy for oil in Texas, however, NW Louisiana has essentially shut down Natural Gas drilling. Only the rigs that are still drilling for it are working. The others are stacked up. Pretty sad that it was busy busy busy then Biden halted the LNG and it abruptly stopped
Posted on 3/12/24 at 5:57 am to bayouboo
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.
But I’m sure he’ll do better next time.
Posted on 3/12/24 at 9:58 am to bayouboo
Drilling a well in West Texas in 5 to 7 days.
Posted on 3/12/24 at 2:34 pm to bayouboo
quote:
Aren’t oil companies drilling at record levels now?
Yep.
Posted on 3/12/24 at 6:07 pm to bayouboo
quote:
Aren’t oil companies drilling at record levels now?
But they could be drilling for so much more in places like offshore, but regulations and the risk of Saudi Arabia dumping their cheap oil in the market scares some producers from drilling more because the cost to extract would be more than the spot price.
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