3 ms·
> How is that even economically viable? Are you kidding? It's like drilling up geysers of money. The ten most profitable companies in the world are nine oil
by carapace 7y ago
> How is that even economically viable?
Are you kidding? It's like drilling up geysers of money.
The ten most profitable companies in the world are nine oil companies and Apple.
Count the cars and trucks and planes and generators and leaf-blowers and chainsaws and every piece of plastic ever and thousands of chemical byproducts... oil is everywhere.
- jiofih 7y agoI was thinking of the overhead of equipment, personnel and so on. Saudi Arabia produces as much oil with 100x less wells. All I can imagine is that US oil is massively subsidized, to the point of market forces or efficiency not mattering at all.
- carapace 7y agoAh, yeah, I don't know, I'm not that knowledgeable about it. Maybe Texas is less efficient than the Saudis, maybe the tech is older or something, but they're not losing money on those fields. Oil is black gold. FWIW, oil is massively subsidized: war isn't cheap, eh?