Remember When Obama Said We Can't Drill Our Way Out of High Energy Costs?

[Weatherman2020]

Have you hugged a fracker today?
Will Trump Send Oil Prices Crashing?

Summary
For now, prices seem to be stuck on a downward trajectory because there is still too much supply on the market and record amounts of storage according to the EIA.

The number of oil and gas rigs in the U.S. has doubled from its lowest level in 75 years.

This shale boom is different, however, with the industry having been transformed by the oil price crash.

http://seekingalpha.com/article/4055159-will-trump-send-oil-prices-crashing

 

[Jimmy_Chitwood]

Have you hugged a fracker today?
Will Trump Send Oil Prices Crashing?

Summary
For now, prices seem to be stuck on a downward trajectory because there is still too much supply on the market and record amounts of storage according to the EIA.

The number of oil and gas rigs in the U.S. has doubled from its lowest level in 75 years.

This shale boom is different, however, with the industry having been transformed by the oil price crash.

http://seekingalpha.com/article/4055159-will-trump-send-oil-prices-crashing

I only listened to that socialist for entertainment value.

 

[Markle]

Have you hugged a fracker today?
Will Trump Send Oil Prices Crashing?

Summary
For now, prices seem to be stuck on a downward trajectory because there is still too much supply on the market and record amounts of storage according to the EIA.

The number of oil and gas rigs in the U.S. has doubled from its lowest level in 75 years.

This shale boom is different, however, with the industry having been transformed by the oil price crash.

http://seekingalpha.com/article/4055159-will-trump-send-oil-prices-crashing

You're right about that too. Seems that we DID drill our way out of a shortage.

 

[Weatherman2020]

With oil prices struggling to rebound after hitting a three-month low last week, Americans are getting yet another reminder of just how wrong President Barack Obama was about drilling.

“The American people aren’t stupid,” he said back in 2012 — when the price of oil was above $100 a barrel and gas was $3.50-plus a gallon at the pump. They know “we can’t just drill our way to lower gas prices.”

Well, he was right about one thing: Americans aren’t stupid. They wisely ignored him and drilled anyway. Guess what? Supplies rose and drove down prices. They haven’t come back since.

Hug a fracker for that welcome turn of events: US oil output from shale has soared over the past decade, thanks to new fracking and horizontal-drilling technology that has lowered production costs and made shale-oil extraction economical.

(And blame Gov. Cuomo for banning New Yorkers from taking part in the fracking boom.)

Low oil prices prove how wrong Obama was yet again | New York Post