Wyantry wrote:
So one has to wonder a bit about the nixed-signals being pushed by the current administration:
1. FJ-Biden is calling for oil companies to increase production — after cutting back on the potential for increasing potential production (curtailing leasing). And k*****g a project that could have delivered more oil, more economically.
No action cut production by even one barrel of oil. In fact production is up. The problem is demand .
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2. At the same time, FJ-B is calling for new refineries (which would cost > $10 billion — EACH).
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3. While putting the country on a path to be “100% oil-product free” within seven to ten years.
No not 100% oil “product” free .
Multitudes of products. Are made from oil that have nothing to with EV’s or energy production . And the goal is 50% greenhouse gas reduction by 2030.
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It is no wonder oil producers and service companies do not see any reason to invest in refineries or expend a great deal of investment capital so the government can put them out of business!
(That is why the oil companies are diversifying into alternative-energy sources and technologies.)
Rest assured these companies are there to make money nothing else.