healthmyths
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- Sep 19, 2011
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- #41
Unlike people like you with a flower child name of "moon glow" people responsible for planning don't think in today's terms. They think in terms of 6 months, a year ...5 years.There is no shortage of oil due to public leases, you do have shortage because those in charge of petroleum production have refused to let oil flow until the price is right.
When 25% of oil production comes from sources that are NOW restricted under Biden's moratorium i.e. federal lands, these people that had planned for volume usage 5 years ago for today are now looking at a stoppage of leases for "exploration" not production today... but in the future now being restricted by 25% i.e. federal lands produce that, they are saying "where will we make up the 25%?" Hence they raise prices by 63% so far under the presidency that has cancelled exploration on lands that historically produce 25% of the oil the country requires.
Do you comprehend that? The oil companies aren't thinking about today but 6 months... a year etc. from now!
And their observation is production is going to be limited because 25% of the producing land is now out of the picture for "FUTURE" exploration... ! Do you understand? That's why prices are going up!