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Proposed plan for new oil drilling in US
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The number of rigs drilling for oil in the U.S. is steadily climbing. The year-over-year increase in the Baker Hughes North America Rig Count is now about 60%. Historically, it has rarely climbed at a faster pace than this. While drilling may have increased, the U.S. oil production is only up by about 8%. Oil company wants to produce as much oil as they can at current prices, because they will indeed be very profitable with oil prices above $100/bbl. But they can’t immediately toggle production
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The number of rigs drilling for oil in the U.S. is steadily climbing. The y…
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Biden to block all future oil drilling in parts of US oceans
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Did you know that the first commercial oil drilling in the world took place in Croatia? While many believe that commercial drilling began in Drake, Pennsylvania in the USA in 1859, three years earlier, near a small village in Medjimurje called Peklenica, one Count Georg Festetics began commercial exploration back in 1856. A Viennese entrepreneur, Wilhelm Singer drilled dozen of oil wells from the 1880s, and drilling in Peklenica continued until 1967, when operations ceased due to diminishing ret
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13K views · 358 reactions | The U.S. has long struggled with supply...
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Trump administration announces plan for new oil drilling off the coa…
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