As president all he can do is open up the permitting side. These oil companies are sitting on many unused permits right now. The only thing that’s going to get them to do more drilling is if the price goes sky high, which they decide.
Also starting a new project takes years, even after the permit.
They are not gonna drill more, they are already sitting on a shit ton of unused leases.
If an exxon executive says it it must be true
Hard to control artificial prices if you “drill baby drill YOLO” as a policy, unless the government subsidizes the difference so shareholders/Wall Street can still maximize profits.
OR
We deregulate them (even more) and let them loose on the country unburdened by rules and safety (again even less than are already relaxed rules).
[ X ] Doubt
So BP, then?
I don’t doubt it. The shock from 2020 is still being felt in the industry. They aren’t saying this to placate you, it’s just a fact that they are trying to maximize future profitability. They’ll take tax cuts, but they won’t use it to bring the price down. You’ll pay what you’ll pay. They’ll just pocket the difference
I COULD spend freebie money to bring the cost of my product down and make more of the product to bring down prices but… Fuck you!
Wow that was a fun thought experiment.
Leopard spokesman says faces will not be eaten.
