Drudge Retort: The Other Side of the News
Wednesday, April 13, 2022

When it comes to drilling new wells, most U.S. companies have taken a vow of abstinence for the past two years. With oil prices holding above $100 a barrel, those vows get harder to keep. Last week's rig count showed a large jump in rigs in the U.S., and new data on permits in one key U.S. basin show that activity is ramping up. The apparent shift is notable because it could signal that an increase in production is coming in the second half of the year and 2023, which would weigh on oil prices, and possibly on stocks. Prices were up on Wednesday, with West Texas Intermediate crude futures rising 2.3%, to $102.86 a barrel, though they have declined from highs above $130 in the early days of Russia's invasion of Ukraine.



Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

And there it is. It really wasn't Joe and not issuing new leases holding production back. It was capitalism and quite possibly politics to hurt Democrats... The thing is the price of oil is too high not to drill.

#1 | Posted by GalaxiePete at 2022-04-13 05:21 PM | Reply

But but but...Biden's "war on energy"...?

#2 | Posted by jpw at 2022-04-13 05:24 PM | Reply

I would not drill if I was an oil producer. Biden is calling for a temporary ceasefire in his war against American energy independence, not an end to the hostilities. Additionally, we will be in a deep recession by Q3 which will naturally bring the price down as demand slides. Better to wait until after the GOP sweeps the midterms and you can be assured that the Dems are out of power until 2026 at least.

#3 | Posted by RayTraylor at 2022-04-13 09:37 PM | Reply

More predictions unlikely to come true.

Has that idiot Ray ever been right? Trump winning? High minority vote? Lol

#4 | Posted by jpw at 2022-04-13 10:55 PM | Reply

"Has that idiot Ray ever been right?"

Well, he got caught lying about deaths as a result of the vaccine, and when I pointed out his own VAERS link specifically warned against making that correlation, he proudly retorted he stood by everything he claimed.

So, short answer: no.

It's like Rex Zeitgeist and Special Eddie had a bastard child.

#5 | Posted by Danforth at 2022-04-13 11:05 PM | Reply

---- the Barrons Web site. I'm not paying a "discounted" $4/month to hear propaganda.

If you want me to hear propaganda please, provide it for free just like CNN, MSNBC, Fox NEWS, OAN, CBN, CBS, NBC, ABC, etc...

#6 | Posted by jamesgelliott at 2022-04-14 10:43 PM | Reply

No more drilling,save the planet.Bicycles for everyone. No air travel and of course,no War with Russia.

Go green, AOC will love it.

#7 | Posted by Effeteposer at 2022-04-14 11:46 PM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2022 World Readable

Drudge Retort