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We could easily turn the pumps off. The issue is the Saudis aren’t doing that, for geopolitical reasons.
by Analemma_ 7y ago
We could easily turn the pumps off. The issue is the Saudis aren’t doing that, for geopolitical reasons.
- JumpCrisscross 7y ago> We could easily turn the pumps off Can one? I don't know enough about oil wells to know if that's a simple thing to do. It could very well do permanent damage to the well, in excess of selling negatively for a few months.
- scrumbledober 7y agoSaudi Arabia is constantly turning on and off different oil wells to manipulate the price of oil. This current crash is in large part due to them turning on all of their pumps.
- exhilaration 7y agoOnly Russia can't completely turn off its pumps, and only during winter. They'll freeze. Besides that case everyone else can do it or simply slow them down as they've done in the past.
- BurningFrog 7y agoWill they thaw up and be usable in summer, or does the freezing destroy them?
- exhilaration 7y agoNot destroy exactly, but cause enough damage that it will require extensive repairs. Please note that this what the Russians claimed some years ago as the reason they could not shut down production during a previous disagreement with OPEC so we should take it with a grain of salt.
- w1 7y agoUsually, one can, with no ill-effects. Many operators run their marginally economic wells for only a few hours per day already.