It seems to me that his data would indeed support his
Posted on: May 20, 2022 at 20:04:49 CT
JeffB
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assertion that prices this high weren't needed to ramp up the drilling necessary to reduce prices.
US domestic drilling was taking place at oil prices 50% of current levels. In the months prior to COVID, the US produced an all-time high of just about 13 million barrels per day (at pricing of $55/barrel)
If he is wrong, where are the holes in his logic?
Edited by JeffB at 20:05:08 on 05/20/22