Did You Know? US Oil & Gas Drilling Up 60% This Year
16 hours ago David Middleton
Guest “Shedding light on the Big Lie” by David Middleton
While most of my recent posts have focused on Biden’s lies about the oil & gas industry, there is one BIG LIE that has become so pervasive, that has effectively become common knowledge.
U.S. producers reluctant to drill more oil, despite sky-high gas prices
BY IRINA IVANOVA
UPDATED ON: MARCH 25, 2022
Consumers battered by sky-high gasoline prices shouldn’t expect relief from the oil industry anytime soon.
Many oil and gas executives say they have little interest in increasing oil production — even at crude’s near-record prices, which make extraction very profitable for their companies.
The price of crude oil has been steadily rising since the start of last year. It hit $100 a barrel in March after Russia invaded Ukraine — the first time in 12 years it breached three digits.
At that price, oil companies would normally race to snap up land and drill new wells. But a sizable number of oil and gas executives are saying they won’t increase production at any price, according to a survey released this week by the Federal Reserve Bank of Dallas.
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CBS News
https://wattsupwiththat.com/2022/04/05/did-you-know-us-oil-gas-drilling-up-60-this-year/
