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BumRushDaShow

(165,177 posts)

3. The U.S. is currently the largest oil producer in the world

Reply to OC375 (Reply #1)

Wed Dec 10, 2025, 08:27 PM

Dec 10

Even when Biden was offering leases, the industry was lukewarm because the price/bbl of oil at the time was close to their "breakeven" costs for drilling the new well and thus the profit would not be there. At post time, the WTI price was ~$58.80/bbl.

(above from here - https://www.dallasfed.org/research/surveys/des/2024/2401)

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Highlight:

First of 30 oil lease sales planned for Gulf of Mexico draws $279 million in bids from companies [View all] BumRushDaShow Dec 10 OP

Seems Cheap? OC375 Dec 10 #1

The U.S. is currently the largest oil producer in the world BumRushDaShow Dec 10 #3

I believe there are a staggering number of "abandoned" wells in the Gulf. When Deep Water Horizon debacle occured it was Evolve Dammit Dec 10 #2

His brain is still stuck back in 2008 BumRushDaShow Dec 10 #4

Not a fan of fracking as it renders aquifers non-potable for the forseeable future. Drilling fluids very toxic. Our Evolve Dammit Dec 10 #5

Fracking is horrible BumRushDaShow Dec 10 #6

Had friends family in PA and when they signed over their land for fracking, had to agree to never use it for drinking. Evolve Dammit Dec 10 #7

It's also a significant contributor to the increasing concentrations of methane in our atmosphere. Borogove Dec 11 #10

I did not know that. Thanks Evolve Dammit Dec 12 #11

"Gulf of Mexico?" SergeStorms Dec 11 #8

Because if we don't have that oil we can't have our glorious wars. travelingthrulife Dec 11 #9