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Discussion Starter · #1 ·
It amazes with the high price of gas how nobody seems to complain about the oil companies not opening the refineries they closed down during the pandemic. Also, the oil companies not doing more drilling as they could well be, just sitting back and making more billions in profits.
 

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In the Baken field in North Dakota many of the people who own the mineral rights are complaining that they do not have a lot of the wells pumping..
The big oil companies have cut back on their production. The wells in the Baken Field are fairly new wells. There is plenty of oil there if they want it.
Another fact is that big oil is using its big profits to buy their own stock back, inan effort to get better control of their companies. It would appear that they are reassessing the value of its investors .
Another issue is that most of the drilling rigs in the Baken are parked there is no drilling going on. . It’s not an issue of permits being pulled either. In the Baken a majority of the wells are on private land.
 
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I'm guessing they haven't helped to create the perfect storm either. You know the Russian gas has stopped stopping the pipeline , not extracting oil . Something needs to give I'm fortunate we heat from a heat pump my secondary heat is LP gas but with going to FL for the winters we cut the heat back to 55. But imagine the people this winter in the northern states that heat with fuel . Going to be some cold homes I'm afraid. And some struggling families while the crackhead , perverted family blames the 🌎.
 

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The link below has some information. Also, my speculation is that oil companies and investors are reluctant to invest the huge $$ to reopen facilities that the Biden administration has vowed to shut down. Reopening refineries isn't like flipping a switch. It takes time and lots of $$. If the government publicly announced that their intent was to shut down your business, would you think it wise to spend $$ in new investments or reap the profits that have been reinvested in past years?

Rick
 

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I think @toiville2feathers has a Valid Point. and the Reason....can be found in the post by @Greyfox
Fracking is a very bad thing for the environment I hear, and very expensive to do. Hard to make a profit maybe?

No doubt shutting off the Russian energy has crippled the USA more than it has Russia.
The Netherlands and Germany have Both fired back up their COAL fired power plants.
The fools on charge in DC will not even consider That.
And I DO think there is a bit of "Getting Even" going on in the Oil business. After all joebiden Said he was gonna "shut them down."
 

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Remember Obama shut down the coal mines so power plants had to start using natural gas to make electricity which will be in more demand as all these electric truck, cars, tractors, semi, school buses, and Harley's hit the grid.
 

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The pipeline that Biden shut down is a pipe line that was being built to transport Canadian tar sands crude to sea ports in Texas, so they could sell it to China. That pipeline is not going to carry one drop of American produced crude oil anywhere. In addition Canada will not give the USA a permit for pipelines to carry the Alaskan North Slope oil to the USA to be refined. That why it goes to the Pacific Rim to be refined and we buy it back at OPEC prices
That tar sands crude is the dirtiest and toxic crude oil known to man.
That pipeline needed to be shutdown because there are only two things it would contribute to us Americans.;
1. Available jobs in the construction of the pipeline.
2. The biggest environmental clean up known to man ( many times worse than the Alaskan - Valdez spill) when it spills its guts over the landscape.
 

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Discussion Starter · #12 ·
One thing everyone should remember is this, when big oil goes Brandon, they are not only doing it to Biden they are doing it to all the consumers also!

Very good and very well stated post 2 feathers! There are a great many who don't understand about that pipeline or choose to ignore the facts behind it.
 

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The gov has pulled permits and have been dragging their feet writing new ones on fed land. People get leases and permits confused. Along with the pipe line they also shut down drilling some places in Alaska.
I'm not sure how we have several pipe lines in the US that are good but the one that was shut down was really bad and going to destroy the environment🙄. Basically shutting down the pipeline is making their non oil friends rich from oil companies having to pay to transport it on trains which in the ends raises oil prices for us and makes RR companies a hefty profit. Follow the money.
 

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Coyote I believe you have said it in a nut shell follow the money. Don't take a rocket scientist to see that this administration is pushing for green and lining their pockets with the money. Like the old saying goes- How many democrats does it take to solve a problem? Nobody knows, it has never happened!
 
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