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nateDiggsCSU

Joined: 08/01/2004 Posts: 70092
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A quote from the study:


"Oil production is expected to decline over the next five years in part due to low prices but
then recover with additional well completions after 2030."

This is nothing but politics. Biden took an action to review a federal program. He's being blamed for reducing tax revenues that were likely going to decline anyway for the next 5 years because of market economics.

One of my other takeaways. The oil industry has created a new type of well that gets them their ROI sooner than old wells. There are pluses and minuses to that and it is a problem that the businesses need to sort out for themselves. Does it make sense for their business to produce the oil so quickly that they will be dependent on a constantly growing number of wells to maintain revenue levels? That is a business problem.
[Post edited by nateDiggsCSU at 02/20/2021 3:15PM]

(In response to this post by Pokebball)

Posted: 02/20/2021 at 3:15PM



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Current Thread:
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  Found one opinion piece from the WSJ. ** -- Cam's Chorizo 02/20/2021 11:46AM
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  Here is the UW study -- Pokebball 02/20/2021 2:59PM
  A quote from the study: -- nateDiggsCSU 02/20/2021 3:15PM
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