Article written right before Covid hit… this is funny they proclaimed “supply concerns!” in the title of the article but back then under Trump, the “concern!” was there would be TOO MUCH! 😂
And yo, these wells are ALL STILL THERE… nobody has to drill anything…
So now the question; is current US supply being reduced due to Covid policies or Democrat ESG (Extremely Stupid Girls) policies?
The number of drilled but uncompleted wells (DUCs) continues to build across the U.S., rising nearly 60% over the past two years. Consequently, this is creating an unprecedented backlog of oil and gas production that could add a new wave of supply.
Why Rising DUC Count Is Creating Oil & Gas Supply Concerns https://t.co/iSRxFmbjE6 | by @OpportuneLLP
— Energy & Environment (@Energy_Alerts) February 5, 2019
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Senators Sheldon Whitehouse and Elizabeth Warren say they’re working on a proposed new tax targeting profits being reaped by oil companies as crude prices spike amid geopolitical tensions.
“Big Oil’s first priority is to maximize profits,” Warren, a Massachusetts Democrat, tweeted on Wednesday. “We can’t let them use Putin’s invasion as an excuse to pad their bottom line with war-fueled profits,” she said, referring to Russian President Vladimir Putin’s invasion of Ukraine. “So I’m working with Senate Democrats on a windfall-profits tax.”
Yeah, that'll help.
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