alt Hacker NewsNot a stupid idea at all. The US oil corps are making massive profits.
It's at everyone else's expense, but so is everything else they do.
Replies
WarmWash • today at 2:05 PM
This is probably the worst thing oil corps could ask for, and I can guarantee you with every ounce of my being that they are furious over this.
It might check the phantom "short term profits" box, but anyone with any modicum of business sense (and the oil boys are no amateurs) see this event as probably the largest nail ever driven into the oil coffin.
Trump could not have given a bigger gift to the anti-oil crowd, making every human on Earth think "Damn, this shit is getting expensive and unreliable, what alternatives are available?"
> The US oil corps are making massive profits
Its not my area of expertise by any means, but I would perhaps point out the US Strategic Petroleum Reserve chart[1] which is at its lowest level since 1982.
Also do not forget the oil and LNG needs to be transported and that is becoming increasingly difficult and expensive.
It may well be that the artificial party cannot go on forever.
[1] https://en.macromicro.me/charts/41674/us-strategic-petroleum...