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Two years ago, oil was at $0. If the war in Ukraine ends, oil will likely go back to $40 or less. Larger projects take years to develop and long term prospects
by osigurdson 4y ago
Two years ago, oil was at $0. If the war in Ukraine ends, oil will likely go back to $40 or less. Larger projects take years to develop and long term prospects are dismal since we won't be using oil anymore. Can you really blame companies for being cautious?
- feet 4y agoThey have essentially tripled their profits at the expense of everyone else This is what unbridled capitalism and profit seeking gets us
- ericd 4y agoIt’s not easy/quick to spin up production. The demand is somewhat inelastic, and they sell it to the highest bidder. Not sure what you want?
- feet 4y agoIts purposeful, go listen to the calls They have production capacity already and they refuse to use it
- osigurdson 4y agoWere you petitioning for government bailouts for the oil industry when oil was at $0?