boberic wrote:
N ews Flash---Oil companies are in business to make a profit. They will only drill where it is profitable. Anwar (cancelled by biden) Frakking (limited by biden) loss of some federal land (drilling sites cancelled by biden) Have removed some of the profitable drilling sites. Some other drilling locations cost more than even the higher prices will allow. Untill several years ago, shale oil was too expensive to extract so the oil companies didn't extract it, even though the y knew it was there.But then fraking (hydraulic fracturing) made shale oil financially attractive. But even now some places, The state of N Y , prohibit frakking. NY is run by democrats. And Liberal (democrats) c*****e c****e crazies Liberal democrats, policies limit energy sources. And at this time democrate control the federal gov't. So republicans do NOT have the power
N ews Flash---Oil companies are in business to mak... (
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At the current price of oil it is likely that more drilling will take place, 35 years ago I invested in low producing wells in the east, old wells that had been pumped until the yield got so low that it was not profitable . A rise in oil prices made it profitable so our group bought the leases and began pumping, they were profitable for a while until the Fracking began and the water table in the wells rose above the well pickup.