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So they would be able to produce so much oil that they wouldn’t be able to sell it for as much due to supply and demand?There's a lot that goes into it. After a lease is assigned the exploration phase goes deeper. Sometimes they find there isn't enough oil. Sometimes they find they need an additional lease drill on that unit. However, the Biden administration is refusing them which means a prime drilling location is stalled. Then there's environmental and legal hurdles. If they could make money drilling on their leases they would be.
The oil is being consumed. Nothing changes that. All you're doing is giving the money to corrupt dictatorship known to abuse their people and pollute/contaminate the earth in ways American companies would not be allowed to. By blocking American companies from drilling you're most likely diverting that oil production to a country that "rapes the planet" far worse. Additionally, everyone in the oil industry earns a profit. Why do you want Middle Eastern dictators and Russian oligarchs to profit at our expense?
Why would they do that?
Here in cali they regularly shut down refineries for unexpected maintenance during peak demand periods. If they do it every year at that time it’s not unscheduled, is it?
They’ve got us by the balls, why would they ever let us go?
Crocodile tears. Ever let a crisis go to waste.
We’re all paying out the ass for gas made from oil that was purchased months ago. And the price won’t go back down until long after the current crisis is over and oil prices go back down. Every time an Arab farts that happens.
And my friend ran the AV for the oil convention where they talked about the coming of peak oil. About twenty years ago.