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Message: <blockquote data-quote="bbsam" data-source="post: 5471640" data-attributes="member: 22662">It’s actually a lot like farming.  You’ve got your Exxon’s and Shell’s and BP’s and then you’ve got lots of small companies.  Some survived and some didn’t. What is 100% true is that in capitalism, a lot of those wells were shut down during the pandemic because they simply weren’t profitable.  And once shut down, whether it was actually worth it to pay the considerable cost to get those wells up and running became a question.  Probably more so with fracking operations.  It’s not just a “flip the switch” proposition.Now in countries like Saudi Arabia and Russia, the state owns the oil industry so it’s not an issue.  In the US, companies are driven by profit so the decision to close wells or go out of business is on a wholly different set of parameters.</blockquote>