oh sweet, you studied Economics? UVT? Maybe then you can explain why a pipeline (that had been gridlocked for damn near decades) has more of an impact on today’s gas prices than oil futures going negative in 2020. I worked as an oil geologist for a decade—it takes about a year for drilling activity to be influenced by prices—drilling rig contracts, leases, permitting.. you don’t just suddenly drop or pick up rigs/pipelines at a moments notice. And if prices are so low, you can cap wells for production at a later time, but then you get a sort of parasitic loss where production declines based on how long it sat capped. So when oil went so low in 2020, companies halted new drilling but that doesn’t kick in until a while later, so when oil demand boomed again we’re so far behind to keep up. And that was with your Sir. Trumpy in office. So if we’re going to point fingers….
Look at what matters—rig count. Holy shit, look what a boon Obama was on the market. Trump indirectly killed it (to be fair, IMO Trump pulling out of Paris accord killed it, because state and local governments then took charge in climate change since it became evident if they didnt, nobody would).
and guess what? Who has authority over drilling permits and leases? STATE AND LOCAL GOVERNMENTS. Presidents really have such little control over it (why was rig count so high under Obama when he could have killed the industry with the push of a button?) but you simpletons refuse to acknowledge that because it doesn’t fit your political agenda.
just makes my head explode hearing such complete ignorance on the subject by the “silent majority” who somehow deem themselves experts despite having no experience. Or are you a rig hand? Cuz those guys are basically drone ants too, they have one job to do, but outside of putting sticks in the ground, they’re very uninvolved with the whole permitting process as well.
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You must look awfully good naked
