Farewell, tar sands...https://twitter.com/decloet/status/1244655460088758279 …
For every dollar that a barrel of oil drops in price, my state of New Mexico loses about $10 million in oil & gas tax revenue. We're the second poorest state in the US, & the oil price collapse will cause a serious financial crisis here, including for @UNM.
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And you didn't see this coming? Diversify, invest in renewables ,its of sunshine out there
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I have somewhat limited influence on my state's long-term energy policy.
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Maybe there should be some ongoing horizontal fiscal equalisation between states in the United States like most normal Western federal democracies
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Don't worry, us Californians will eventually demand more oil at some point. Just make sure you keep the supply ready
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At these prices--when will win and solar be cost-competitive with natural gas and oil? Never.
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I promise it will come back. Like everything else. Just don’t know when!
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Low prices for products and services is awesome for consumers. And consumers are the most important economic group.
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Consider even the most conservative externalities and tar sands oil is well into negative price territory. Also, it's pretty common for shell companies to buy up lots of old wells then go bankrupt to leave tax payers with the clean up costs. This will be far worse.
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