What happens when the oil under the present leases runs out?
What happens when the oil under the present leases runs out?
Originally posted by: tom
What happens when the oil under the present leases runs out?
Long before that happens, we will have explored for and found additional sources. But there's no earthly reason to do that now.
We also might be mature enough (by getting rid of MAGA) to construct more alternative energy sources.
Originally posted by: tom
Liberals think all you have to do is to stick a stick in the ground and oil pops out. It takes time to to explore and find wells with enough oil to be profitable.
Time and money, it's about the money, the oil companies are not looking to invest the money. If prices fall lower because of increased production, would they be more inclined or less inclined to spend money? I say less.
I'm guessing you didn't read or understand my post, so here's a repeat for you to think about:
"Over the past five years, oil and gas companies have been returning a big chunk of their profits to shareholders in the form of dividends and share buybacks. With oil prices declining over the past two years, these companies have resorted to borrowing more to keep their shareholders happy."
Originally posted by: CharlesII
200 Ways President Biden and the Democrats Have Made it Harder to Produce Oil & Gas - American Energy Alliance
Now who do you really think really is better suited to exploit America's energy resources and bring down prices for American consumers? The bureaucrat lawyer focused on the 'existential threat' of climate change or the engineer, entrepreneur and energy innovator?
You can quit posting the "200 Ways" list, you post it every time I bring new info about this, and I've already addressed it.
Chris Wright believes fossil fuels contribute to climate change:
"Though he admitted fossil fuels’ greenhouse gas emissions were warming the planet, he said “there is no physical way” solar, wind and batteries could replace the “myriad” uses of gas – something top experts dispute. Further, a bigger and more immediate problem was energy poverty, Wright said."
Originally posted by: CharlesII
Now who do you really think really is better suited to exploit America's energy resources and bring down prices for American consumers?
The oil companies are borrowing money to raise dividends and buy back shares. If oil prices fall and expanding drilling will cost more, what will that do to the potential profits of each new well? Where will the money come from? How will that lower prices for consumers?
I've been posting about this for a year and I've been right on all of it, you have been posting "200 Ways" and "in spite of Biden". As I've said before, capitalism works.
I'll be here to admit I was wrong if that happens, which would be another way I would differentiate myself from our MAGA posters. With facts, truth, and honesty.
Originally posted by: Boilerman
Wasn't Florida supposed to be under water by now?
No, it wasn't.
Originally posted by: tom
What happens when the oil under the present leases runs out?
The experts that work at the billion-dollar oil companies have it figured out, don't worry your pretty little head about it.
People like Lorenzo Simonelli and Liam Mallon, you know, the same guys who said things like:
""U.S. oil and gas producers are likely to boost output primarily from improved efficiencies rather than new drilling and higher spending, Baker Hughes (NYSE:BKR) chief executive Lorenzo Simonelli told Reuters on Monday."
Peak Oil. I remember in the 80s we were going to run out before the end of the 90s during the Ozone scare in 1985! Er mah GERD! It's always some catastrophe 'in 10 years' while special interests scoop up taxpayer dollars.
Never let a crisis go to waste, especially the ones created to cause a crisis.
The more leases sold, the more opportunities for projects that make economic sense in this market. That is not speculation, but instead fact. Trump and friends can create a situaiton which will help spur oil and gas exploration and production.
Originally posted by: Inigo Montoya
Peak Oil. I remember in the 80s we were going to run out before the end of the 90s during the Ozone scare in 1985! Er mah GERD! It's always some catastrophe 'in 10 years' while special interests scoop up taxpayer dollars.
Never let a crisis go to waste, especially the ones created to cause a crisis.
Technology, amazing stuff.
