I vote we halt any further discussion until EVERYBODY reads this 2009 article from Canadian press:
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In Texas, oil sands firms fight for their share
Pipeline extension to Gulf Coast refineries is key for Canadian producerswww.theglobeandmail.com
I vote we halt any further discussion until EVERYBODY reads this 2009 article from Canadian press:
![]()
In Texas, oil sands firms fight for their share
Pipeline extension to Gulf Coast refineries is key for Canadian producerswww.theglobeandmail.com
That was 2009. A lot has changed since then.
Here's the takeaway 13 years later. We export, we import. We drill clean energy, and have access to dirty tar sands oil that's expensive to refine, and our drilling permits are out the roof here in our own country. So why the high costs? You tell me? I say it's greed, oil companies, and Wall Street. Biden has shit to do with it. Why isn't Big Oil drilling more as gas prices surge? The answer is more Wall Street than White House
The root cause of today’s high gas prices isn’t politics: It’s financial pressure on oil companies from a decade of cash-flow losses that have made them change financial tactics. Investment in new wells has dropped more than 60%, causing U.S. crude oil production to plummet by more than 3 million barrels a day, or nearly 25%, just as the Covid virus hit, and then fail to recover with the economy. For an oil-drilling sector that lost 90% of its stock value from 2012 through early last year, it hasn’t been the toughest call in the world. WE are making up the difference. But let's blame Biden.
