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Misc This Means WAR

NoSnowATL said:
Drill baby drill. 7% of our petroleum travel through the strait. We don’t need it. We have plenty here if the tree huggers didn’t have a voice. This crisis is market driven not a supply issue. This war is about control not gas.
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We cant use the oil that comes out of the ground in the US in almost all the US refineries. The real issue is oil companies here not wanting to build new refineries that could handle domestic oil.
 
NoSnowATL said:
Drill baby drill. 7% of our petroleum travel through the strait. We don’t need it. We have plenty here if the tree huggers didn’t have a voice. This crisis is market driven not a supply issue. This war is about control not gas.
Click to expand...

Increasingly the investment horizon for oil and gas exploration just doesn't make sense. The energy transition is happening. Demand for retail fuel is going to go down. How far down is anyone's guess.

There will still be a need for extraction and refinement but within 20 years you're going to see even more consolidation and shrinking of that market. It's entirely realistic that within a decade ~1/3 of new vehicles sold in the US will be electric. Other nations are further down the road and their fuel demand is falling.
 
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