Tear Em Asunder

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Joined: 08/01/2004 Posts: 70064
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I think you missed my point

Based on my read of that study, the oil and gas industry created a new type of oil well that allows them to capitalize on their investment in digging a well more quickly. They likely did this so they could more quickly strike when the price of oil is high and aren't so dependent on the whims of the crude oil market.

That is not a government regulation problem. That is a problem with a business decision that the oil and gas industry made as it front loads the revenue. This is great when the price of oil is high and when there is limited government intervention into how they obtain mineral rights. It's not great when the price of oil is low or when the government looks to slow down granting federal mineral rights.

The issue isn't regulation. The issue is that the oil and gas industry changed their business when oil prices were high and are now dependent on the government to provide them new mineral rights to stay above water. If they had dug traditional wells that paid off more over time instead of upfront, they might not be in such a bad position right now with the suspension of mineral rights on public land.

(In response to this post by Pokebball)

Posted: 02/20/2021 at 5:44PM


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Current Thread:
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