What falling oil prices do not accomplish against Big Oil, the Hillary Clinton administration surely will.
The GOPe is doing its best to assure a Hillary victory in 2016.
“But you and I both know that with only 2% of the world’s oil reserves, we can’t just drill our way to lower gas prices...”
March 2012 by the Smartest Man in the World
Anyone have a favorite public company to own as an investment
There are a whole bunch of wells being drilled but not completed. Holes drilled, casings run and cemented just sitting there waiting for the price to come back up since a typical perforation and frac job cost 250k + and then there is other surface costs involved with putting it online.
Drilling costs right now are cheap compared to a couple of years ago and rigs are plentiful since most now are just sitting. The biggest contractor here has about 30 rigs sitting in their yard. Not enough space to store them laying down so they have them standing up. Looks like a forrest of rigs. Cost, about 20-25 million each just sitting there.
October? How about comparing this January to last January? Crude prices have crashed in the last 3 months, just like the stock market. Oh, I forgot. The Obama economy is wonderful, according to the MSM.
Give it time.
It isn't.
Someone, somewhere, is skimming off the top, La Cosa Nostra style.
CNN, the Clinton News Network, fails Economy 101.
This is a perfect time to refill the strategic oil reserve to the brim.
It helps keep US oil producers solvent, secures us in case of an Iran - Saudi war that kills supply and is a better use of money than buying up more federal land or failed business bailouts.