Scout by... Volkswagen ?!?!?!? Electric, no less.

[crashz]

So Hay Dude is right, the process that creates oil still does to this day. But keep in mind its something like diamonds. Lots of pressure and lots of time are needed. So in the span of this thread, how much oil was created (not pumped, but actually made by the earth)? Probably very, very little. My WAG is just enough to lube my front door hinge.

 

[nickfank]

That doesn't get much attention.

An old guy told me he used to ford the upper Feather River (NorCal) in his Willys Wagon at a well maintained logging truck ford. Had to remove the fan belt, so the the fan wouldn't throw water on his ignition.

Don't try this in your Tesla.

Here's someone trying it in a Tesla: Tesla Model 3 Handles Flooded Streets In China Like A Boss

 

[crashz]

The beginning of this thread lamented the potential of wrecking the Scout name. I don't think anyone could do worse than Chevrolet with the Blazer. That is a crying shame.

 

[Torvy]

There isn't any flaw Eddie, there are millions and millions of acres of public land already permitted for them to drill. They aren't developing these. They aren't developing them because they don't need to. They don't need to because the price of oil is high enough to support their business model. It's how smart businesses work. Then hire a good pr company to deflect the negative aspects of your business practices and get people to think it's not the, that's keeping the price high, but some other dude.

Sorry, but you have it backwards. Politicians use the media to make you think it is the companies. Use the noggin, prices are very high, production would be high, too. The companies had not already dealt with the BA pulling the rug out on already established deals. They are not about to invest billions into exploration or exploitation only to have it happen again. Basic economics would preclude holding back on production because prices are high. High prices lead to increased production...Ceritus Paribus.

 

[California]

How dos all this mesh with Saudi Aramco making record profits on nearly the highest revenue of any company in the world?

 

[MossRoad]

The flaw to your position is that it doesn't reflect reality. The process from getting a permit to actually being able to drill costs millions of dollars and takes at least ten years. At any time, there is the risk of the permit being canceled. Just like a million acres of Federal Land had their permits where canceled just last week in Alaska.

Got any links to that?

 

[MossRoad]

From everything I read, no existing oil leases were cancelled last week. A sale of new leases was cancelled, but no existing leases were cancelled.

From several articles:

Oil companies have 8 million acres of off shore leases not yet developed. They have 9000 permits approved but not yet acted on.




Oil companies say they have increased production as the economy recovers from the coronavirus pandemic, but they have been reluctant to ramp up production further, citing a shortage of workers and restraints from investors wary that today’s high prices won’t last. Decisions by the OPEC+ oil cartel, led by Saudi Arabia and Russia, to only modestly increase supplies to the world market have also kept prices high.

Major oil companies reported surging profits in the first quarter and are sending tens of billions of dollars in dividends to shareholders, along with stock buybacks that have sharply increased the value of investor holdings.

 

[MossRoad]

That means investors are happy with high oil prices, so they aren't going to increase production because that would lower the price. Pretty simple. No government involved.

 

[Oaktree]

Last summer, I was driving up a 'local hill' and was behind a very slow vehicle, with nowhere to pass. (Read: Toyota Prius drawing a trailer). All I could think, my God, I am so glad that I am not behind a Hybrid or EV truck hauling a full size camper through the Rockies! EV's might just kill the desire to haul any camper!

Actually, from what I've read EVs have a lot of torque and should be good for pulling a trailer. Pruis not so much.
As far as getting stuck behind a pokey vehicle on a hill, the champ there has to have been those 80s-vintage tacomas with the 4-banger in them. Empty, 3rd gear with the pedal to the floor still couldn't get out of their own way going uphill.

 

[Patches]

MossRoad; what part of this do people not understand? an old saw; figures can lie and liars can figure. cover your a--