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Banned-for-life

Joined: 12/03/2016 Posts: 383
Likes: 586


You are Out-To-Lunch on this one....Its is bad commercial decision to fund


new oil projects if you can not get it to market. Getting to market requires a pipeline infrastructure that can handle the capacity. That depends on Government approvals.

Too much oil is currently being transported via rail and trucks. It's more expensive, more destructive, and difficult to scale up. The vast majority of companies care about their social license to operate and do not want to engage in those types of activities. It's one of the main reasons Shell and other companies have recently sold assets in the onshore US and are leaving. The US political climate is no longer viewed as supportive of making billion-dollar investments that take years to pay off.

As a result, US oil production will stay flat at 11-12 million bbls a day as opposed to 13-14 Million bbls per day which means Russia and Saudi will dictate the market. Biden accomplished what they have been trying to do since 2014 which was to limit US oil production






[Post edited by Banned-for-life at 10/14/2021 5:18PM]

(In response to this post by Bisonic)

Posted: 10/14/2021 at 5:02PM



+3

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