Quote:
Originally Posted by somigosaden
I think presidents make a significant difference, although that difference may not be immediate and may not manifest in the most obvious ways. We would have more oil production—and oil prices would be cheaper—if producers had years ago built more wells
They would have drilled more wells if oil prices hadn't tanked (for years and notably below $0 per barrel for a short time). Do you think the previous two administrations tanked the price of oil, making it ridiculously stupid to drill and keep refractories up and running.
Hint: they did not. Drilling and keeping refractories at the ready would have been a ridiculously stupid business decision over the last decade.*
The bottleneck isn't in transportation. It is a production issue and also a production issue.**
*Since this is the important part, it seemed worth mentioning twice
**Same