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I 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 ma
by jiofih 7y ago
I 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?