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I'm not trying to explain high oil prices, I'm trying to explain why US oil producers aren't quickly ramping up production despite the high prices. From April
by leereeves 4y ago
I'm not trying to explain high oil prices, I'm trying to explain why US oil producers aren't quickly ramping up production despite the high prices.
From April 2021-22, US oil production increased by just 400K barrels per day, compared to 1.4M from April 2017-18 and 1.6M from April 2018-19.
And prices were lower back then.
- jonnycomputer 4y agoBut does it explain it though? Ramping up production because prices are currently high can be a losing strategy, since the price of gas is volatile, and ramping up production is slow, and expensive.
- jonnycomputer 4y agobtw, even if I disagree, I don't think your comments should be dv'd. part of productive dialogue
- leereeves 4y agoUnfortunately, it's normal. There are a lot of Democrat partisans here who upvote any pro-Biden nonsense, however poorly supported, and downvote any con-Biden facts, however well sourced. Advancing their cause matters more to them than seeking truth.