IamZ
Platinum Member
- Mar 11, 2022
- 1,964
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- #341
No one will drill with uncertainty of this administration. It’s caused by bad leadershipYou must be a vegetable? Seriously? Are you not capable of reading my posted links on the subject? Here it is again. Read dumbass; Why isn't Big Oil drilling more as gas prices surge? The answer is more Wall Street than White House
It's all oil companies you idiot; The root cause of today’s high gas prices isn’t politics: It’s financial pressure on oil companies from a decade of cash-flow losses that have made them change financial tactics. Investment in new wells has dropped more than 60%, causing U.S. crude oil production to plummet by more than 3 million barrels a day, or nearly 25%, just as the Covid virus hit, and then fail to recover with the economy. For an oil-drilling sector that lost 90% of its stock value from 2012 through early last year, it hasn’t been the toughest call in the world.