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There is no benefit when prices crash and the US has to bail out these companies. It would be much smarter to reduce dependence on oil with investments in clean

• dragontamer 7y ago
  > There is no benefit when prices crash Prices are crashing because OPEC wants to harm the shale oil industry. Look, we can either make oil or rely upon foreign oil. Those are the two choices (or some combination of the two). The more oil the US makes, the more we are harmed by low prices. The less oil the US makes, the more we are harmed by high prices. Obviously balance is the key, but notice that opponent (OPEC) is intelligent and has a large degree of choice in the matter. Whatever the US does, OPEC will adapt and push our weak point. And yes, I recognize that moving off of oil entirely is a 3rd, independent solution. But that can be done independently of our production of oil. For now, we're a grossly oil-consuming nation, so we have to make due with the present reality of our country.
  • coliveira 7y ago
    > But that can be done independently of our production of oil. If you are an oil producer, and a large part of your economy depends on oil production, there is little incentive for cuts on oil usage. This is exactly the pattern we see in the modern US economy.