Proof? Who are you? Are you an oil extraction professional?
Now a few minutes Google search shows the OPPOSITE of your personal unsubstantiated comment!
"There are indications that the initially high marginal cost of shale oil production has been declining substantially, as the shale oil industry has gained experience, but there are no reliable industry-level estimates of marginal cost."
How has shale oil affected the global oil price?
The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Incorporated as a not-for-profit foundation in 1971, and...www.weforum.org
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Joe said he would end fossil fuels but big oil is making record profits.
Most US wells produce less than 50 barrels per day. Fracking and gas injection are too costly for such a small production. That's why we still use Jack pumps or rocker pumps.Shale Oil vs. Conventional Oil: Costs, Extraction, and Impact
Explore the differences between shale oil and conventional oil, including extraction costs and methods, and how these impact oil market profitability.www.investopedia.com
Some new shale oil wells in the U.S. may have a break-even point of less than $30 a barrel despite the higher drilling and fracking costs. However, the average break-even point for new wells ranges from $46 to $58, depending on the site, with the higher-cost wells coming in at $90 a barrel.
. The Saudis dress funny, but they aren't stupid.
Big oil is making Joe their *****
He hates the Saudi's?..... Then why is he making them rich again?....Biden has a blind spot. He hates the Saudis and has insulted them horribly. He probably thinks they liked Trump.
Have you ever lived in a severe recession? Those in the 1970's not privileged with the better jobs found out about that. Culminated with the Federal Reserve raising the prime rate to double digits. We need that now if inflation does not lower. But the economy will be affected. They are hoping for a moderate recession. Hopefully a quick one. But we are now back in the cradle of the globalists and the swampers.
