Nationalize US oil? US producers, through their own mismanagement, caused the worst oil bust since 80s. To give you the scope of the oil bust we just went through: U.S. DUC Count Drops 48% In Two Years So essentially we "drilled baby drilled" up until about 2019/2020. We drilled so much and so fast that we drilled wells but didn't complete or frack them. We had ~8500 drilled but uncompleted wells (DUCs) in 2020 and are now at about ~4400 DUCs 1/22. We still have lots of runway for oil production to ramp up that doesn't require any new leases or pipelines.
I'd patriotically be up for other people's kids to fight sum terrorism, and spread sum democracy for gas to be under 2 bucks a gallon again. Whats Venezuela up to these days
Exactly, look at this... New federal data shows the Biden administration approved 3,557 permits for oil and gas drilling on public lands in its first year, far outpacing the Trump administration’s first-year total of 2,658. Nearly 2,000 of the drilling permits were approved on public lands administered by the Bureau of Land Management’s New Mexico office, followed by 843 in Wyoming, 285 in Montana and North Dakota, and 191 in Utah. In California, the Biden administration approved 187 permits — more than twice the 71 drilling permits Trump approved in that state in his first year.
I don't know perhaps those benevolent oil companies want to keep having huge profits like last years. The largest in 8 years.
Wow, been reading the D&D, use to think those on right/republican were delusional, but seems Biden gets in office and the left/democrats said hold my beer… we are really going to go off the deep end… their posts take it to a whole new level. This is why I need to stay in basketball and hangout section… I may have gotten dumber reading these posts, but have to love the commitment to your side… You guys/gals have fun…. I’m outta here….
If we truly want long term energy independence it is renewables. As we saw with previous time the US became a net exporter of oil because it is traded globally OPEC and others can just ramp up production and make North American shale oil cost prohibitive. Power generated from sources like wind, solar, tidal, geothermal, biomass and etc.. aren't globally traded commodities. Since they can be generated practically anywhere they aren't tied to any region. Since they can be generated distributed more resilience in the system can be built into the energy system.
That's a good option Or we could invade democratize Venezuela, 2nd option is probably a lot cooler with more guns and stuff
You wanted results, and you can make oil and gas producers frack those drilled by uncompleted wells. Because after setting fire to around $400 billion between 2017-2020 due to capital mismanagement, producers are having to be restrained.
