With all of respect to environmentalists and support them in their agenda, I should say that price will lead to unprecedented consequences for global economy as we are still heavily relying on oil (100 million barrel a day) even for R&FD in clean energies.Change should be gradual
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The majority of US oil is wasted on electricity that could be handled by renewable energy. Time to rethink how a finite resource is utilised while alternatives are developed that benefit everyone instead of a few barons.
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we burn virtually zero oil to generate electricity here, save for massive cold snaps like we just experienced. even then, quite small.
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You're either misinformed, or in the business. Bunker C and other fuels are still burned in many plants although coal has tapered off a bit.
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yeah always "risks" like OPEC cuts manipulation
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We’ll see how these coastal states feel about offshore drilling when their citizens are paying $4 a gallon due to rising oil prices and higher gasoline taxes!
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I've read that $80 is the breakeven price for Saudi Arabia. Pretty sure $80 would be a boon for US producers.
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Even more reason to drill offshore here. Right?
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