re: ‘Drill, Baby, Drill!' Will Secure American Prosperity For The Twenty First Century

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before covid the saudis went on an attack to drive a lot of smaller oil companies out of business because the price of oil was very high and lots of small time producers getting into the business and stealing Saudi market cap..
saudis were successful in driving a lot out of business by flooding the market… then covid and even less demand… saudis have done this is the past and would do it again if required.. however as op said.. the unconventional oil/gas companies are using more tech and knowledge from past and producing more at better cost..
Reality is .. it is economics not politics…

Worked the GOM during the boom and worked it when we called it the Dead Sea.. …price of oil drives it.. not politics

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Saudis did that in 2014, prices came back an cost to drill tight shale went down. Correct many small indies went belly up in 2014 and again in 2020.

What people don't understand is that oilfields are developed using financing by Wall Street money, even by Exxon.

It is a fact that oil was discovered off Florida and we already know prolific formations extend well into the Gulf of Mexico there. The dumbasses think that tar balls are caused by drilling instead of natural seeps.

The chemical makeup of thousands of different crude oils determine profitability when refined and for which products. Crude oil is not a monolith but the low info crowd will believe whatever they are told.

We export a LOT of crude oil now thanks to loopholes in legislation of the 1970's which legally changed condensate into crude oil and banned exports except from CA and AK