Neither the price of oil or the number of active drilling
Posted on: February 27, 2024 at 20:15:03 CT
KC rules MU
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rigs has anything to do with Biden, Trump or politics. And it hasn't through Obama's presidency, Trump's presidency or Biden's presidency. It's strictly about how the economics of any given well program stack up. When production goes up, price drops, as price drops companies quit drilling as much which causes price to rise, which initiates more drilling. It's basically why you never pay the same for gasoline on a month by month basis.
Edited by KC rules at 20:16:48 on 02/27/24