Order the uncapping of existing wells that were capped 20 - 30 years ago that were pumping just fine back then, it only takes a few weeks to get them back into production.
If a general directive to uncap the existing wells were to come from the White House today, prices would start to fall by Tuesday.
That makes no sense whatsoever. Old wells get uncapped all the time if they are economically viable. Why would you have the president order unprofitable wells be uncapped? Would you have him order other businesses to engage in unprofitable production?
“Order the uncapping of existing wells that were capped 20 - 30 years ago that were pumping just fine back then, it only takes a few weeks to get them back into production”
Tell us all about these mythical “capped” wells. Include some sources too
Good point. I’ve wondered about old oil wells that have been capped. I thought many were capped because their production tapers off as time goes on. But if there is still recoverable oil in these wells, let’s get started. In the supply/demand equation, this can only help because then supply is increased.
Are Democrats/liberals/radicals in favor of this? They should be because Democrats got p.o.ed because oil companies aren’t drilling enough on land already leased for that purpose, and they want to see that happen before considering new leases for oil drilling.