RE:RE:Pure speculation that is a traditional view and may not hold water
drill baby drill happened under biden's watch.
record US oil production under biden if you think WTI could get to 60's again under trump, you think oil shalers drill baby drill just for trump? Money no longer cheap or easy for oil/gas like before. Access to cheap easy money, low profit margin at 60s WTI, higher interest rate no longer make drill baby drill an attractive pursuit. Look at what energy producers are doing lately, pay down debt, buy back share, return dividend to shareholders, all that before ramping up produciton. SU is just a rare few oil producer that can pursue production add while doing all those. I read incremental Hz well length no longer yield the incremental oil. Ol shalers have reached the law of diminishing return. With weak USD, i don't believe opec want devalued $60s for their oil. Gold, food, copper, labor cost (everything) are all up due to inflation, u think producers willing to accept 60s oil going forward 2025?
Marty47 wrote: The oil did better under Biden than when trump was president , Harris is probably worst than Biden and you can expect road blocks for usa producers if so production will be lower , trump goal is to reduce energy cost by 50% , so watever he can do it will force producers to increase production thus oil could be in the 60s $..... so my take is Harris has prsident will be easier for the Saudi to manipulate oil price , I don't see trump be positive for suncor