I’ll take them one at a time....
“Are you saying that there are not 562 more rigs in the US today than there were a year ago?”
>>NO
“Or are you saying that the only reason it is more expensive to drill in the US is due to taxes and regulations?”
>>YES
“And what economic model are you using to determine that without regulation, the price of a barrel of oil would drop to $28.00 a barrel?”
>>Supply and demand and a strong dollar!! Also taking what the US government gives in supplements to the middle east for their oil and give it to our US oil producers.
Ready for your phase 2 questions in the morning, time for bed.
MARRY CHIRSTMAS one and ALL!!
So, you believe that without the current regulation, that it would be cheaper to drill in Alaska, the Gulf of Mexico, Wyoming or Texas than it is to currently drill in Saudi Arabia?
If you believe that to be true, then please explain to me how one could drill a deep well in the US cheaper than they could drill a shallow well in Saudi Arabia.
Hint: On average, oil wells in Saudi Arabia are much shallower than oil wells in the United States.