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Posted on 4/16/24 at 12:26 pm to Auburn1968
I dont think a lot of people realize that 68. Oh the oil companies make a lot of money they can afford it, nonsense.
It does not matter how much money you are making your shareholders are looking for return on invested capital. If I can spend a billion in Guyana and produce a heck of a lot more oil with a better margin....then thats one less billion I spend in the US.
Sure they would have drilled in Guyana, but what is going on over there is incredible, all built with money and labor that could have been utilized in the US.
It does not matter how much money you are making your shareholders are looking for return on invested capital. If I can spend a billion in Guyana and produce a heck of a lot more oil with a better margin....then thats one less billion I spend in the US.
Sure they would have drilled in Guyana, but what is going on over there is incredible, all built with money and labor that could have been utilized in the US.
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