Posted on Dec 23, 2021
Why isn't Big Oil drilling more as gas prices surge? The answer is more Wall Street than White...
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"The root cause of today’s high gas prices isn’t politics: It’s financial pressure on oil companies from a decade of cash-flow losses that have made them change financial tactics."
Why isn't Big Oil drilling more as gas prices surge? The answer is more Wall Street than White...
Posted from cnbc.com
Oil
Oil and Energy
Finance
Business
Posted >1 y ago
Responses: 4
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Well independent drillers in the Permian Basin are picking up their slack.
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Absolute truth here Sir. My sons both put in oil pipelines. One just worked at putting a line under the shipping canal in Houston when they had their nice little snow storm this year. He took a trip to the refineries and he said that they were all shut down for MAINTENANCE--AGAIN, just like the last few times he was there. But don't worry folks. The GOP will do everything possible to keep us addicted to oil for as long as possible . Which would probalby be when the ocean advances about 200 miles inland in the Gulf.
Meanwhile, we will continue to EXPORT some of our domestic oil. Gotta keep up the price I suppose. Maybe this is why the surviving Koch Brother spilled the beans abut the Tea PARTY.
Meanwhile, we will continue to EXPORT some of our domestic oil. Gotta keep up the price I suppose. Maybe this is why the surviving Koch Brother spilled the beans abut the Tea PARTY.
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Refineries have maintance cycles which require shutdowns and winter months are when that usually happens.
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