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re: Everybody posting about inflation and rising prices.
Posted on 10/12/21 at 8:38 am to Impotent Waffle
Posted on 10/12/21 at 8:38 am to Impotent Waffle
quote:
cant keep up, when Gas prices were low, folks were upset cause of the economy and Oil Baws were losing truck nuts. Loud Noises!
When oil is low, it’s good for the overall economy of the country as fuel and raw material prices are now lower.
When oil is high, it’s great for exploration and production (Houma, Lafayette, Grand isle, other upstream reliant areas such as the Permian basin, etc) but is bad for the rest of the economy (including refineries) as fuel and raw materials are more expensive.
1
Posted on 10/12/21 at 10:48 am to Oilfieldbiology
quote:Exactly right. Energy is everything, and everything is energy. Cheap energy lubricates the economy, expensive energy clogs it up.
When oil is low, it’s good for the overall economy of the country as fuel and raw material prices are now lower.
When oil is high, it’s great for exploration and production (Houma, Lafayette, Grand isle, other upstream reliant areas such as the Permian basin, etc) but is bad for the rest of the economy (including refineries) as fuel and raw materials are more expensive.
That's why it's so important to move away from energy sources that have variable but unavoidable fuel unit costs and toward those that have unit costs approaching free. Hate for China to beat us in this energy revolution.
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