When does Drill Baby Drill really start?

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Why has the Keystone pipeline not gone back online?

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And the Keystone pipeline has been in continuous operation for more than a decade.

Unfortunately it’s not a switch you can just flip and it’s all back. All that infrastructure has to be updated and put back into service then actually transported. Permits etc. transocean is in the process of updating some of their deep water rigs now to bring back out. It’s in the works but will take a bit.

“US Oil Rig Count is at a current level of 480.00, up from 479.00 last week and down from 499.00 one year ago. This is a change of 0.21% from last week and -3.81% from one year ago. The US Oil Rig Count measures the number of oil rigs functioning in the United States”

Gas is below 2 dollars in my area
Oh wait that was the price of the gas station taco.

“of their deep water rigs now to bring back out. It’s in the works but will take a bit.”


You realize from discovery to production in deep water is years and years and years and years

And that is after discovery and a few years of additional mapping and delineation wells


And also onshore rigs can pretty much be mobilized with a phone call and check… we already have tons of PUD locations ( planned undeveloped)… under lease

Gas price down due to global economics… simple as that

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You realize from discovery to production in deep water is years and years and years and years And that is after discovery and a few years of additional mapping and delineation wells

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There’s plenty that’s been discovered. Drilling and temp abandonment is not uncommon. Go back and complete when the market is right.

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Why would an oil company want to drill Wells when prices are low?

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Because they need revenue. As soon as a well starts producing it is in decline. New wells have to replace it.

The oil and gas industry is acutely aware of the financial implications of drilling in an unstable market. As soon as prices began to decline, companies swiftly reduced their rig counts to maintain positive cash flow. Most operators find their profit margins under severe pressure when oil prices fall to $50 a barrel. Unlike in the past, particularly prior to 2015, oil and gas companies are no longer spending recklessly, ignoring market signals, or accumulating debt without considering the consequences. Oil and gas companies are not aligned with the motto drill baby drill at all costs.

Moreover, the quality of available wells is diminishing, making it increasingly impractical to pursue lower-cost oil extraction. Despite persistent claims about the abundance of oil in the U.S., the Permian Basin is no longer the golden opportunity it once was, signaling the waning of the onshore oil boom in the U.S. Consequently, the industry is poised to pivot back to offshore drilling, which entails greater risks and higher costs. The reality is that the future of U.S. oil production will require a recalibration towards more challenging and expensive projects.

There is a 'lease sale' for blocks in the Gulf of America scheduled to happen this fall. They were suspended under Biden,

You people act like they can just snap their fricking fingers and everything just magically starts up