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BIDEN BLOWS UP OIL PRICES BY CANCELLING DRILLING IN U.S. NOW BEGS OPEC
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<blockquote data-quote="vantexan" data-source="post: 5880419" data-attributes="member: 24302"><p>I pointed out recently that there wasn't a lot of new drilling as claimed here. The major oil companies have thousands of capped wells that they reopened after prices rose to take advantage of the high prices. Where we're getting hurt is closing down all Federal lands to exploration and drilling that is done by primarily small oil companies. And the Bakken oil field in North Dakota and Montana is a prime example of a newer huge oil field being discovered. Plus the advent of tracking has made it possible to go after oil in already played out oilfields that couldn't be gotten to with the older technology. As is there's over 200 years worth of oil in the U.S. at present usage and that doesn't count any oil yet to be discovered.</p></blockquote><p></p>
[QUOTE="vantexan, post: 5880419, member: 24302"] I pointed out recently that there wasn't a lot of new drilling as claimed here. The major oil companies have thousands of capped wells that they reopened after prices rose to take advantage of the high prices. Where we're getting hurt is closing down all Federal lands to exploration and drilling that is done by primarily small oil companies. And the Bakken oil field in North Dakota and Montana is a prime example of a newer huge oil field being discovered. Plus the advent of tracking has made it possible to go after oil in already played out oilfields that couldn't be gotten to with the older technology. As is there's over 200 years worth of oil in the U.S. at present usage and that doesn't count any oil yet to be discovered. [/QUOTE]
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BIDEN BLOWS UP OIL PRICES BY CANCELLING DRILLING IN U.S. NOW BEGS OPEC
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