Montana Takes Matters Into Own Hands, Restarts Dormant Oil Wells Amid Biden's Gas Price Explosion
In response to rapidly rising gas prices, the Montana Petroleum Association has announced that wells in the Bakken oil fields are officially going back online.
https://ijr.com/montana-takes-matters-ha...=topweekly
(03-13-2022, 05:43 AM)The Drifter Wrote: [ -> ]Montana Takes Matters Into Own Hands, Restarts Dormant Oil Wells Amid Biden's Gas Price Explosion
In response to rapidly rising gas prices, the Montana Petroleum Association has announced that wells in the Bakken oil fields are officially going back online.
https://ijr.com/montana-takes-matters-ha...=topweekly
I don't get it. What the article says is that with the price of oil going up, they've re-started those wells because they are now profitable. So how is that "defying" Joe Biden?
(03-13-2022, 08:33 AM)The Real Marty Wrote: [ -> ] (03-13-2022, 05:43 AM)The Drifter Wrote: [ -> ]Montana Takes Matters Into Own Hands, Restarts Dormant Oil Wells Amid Biden's Gas Price Explosion
In response to rapidly rising gas prices, the Montana Petroleum Association has announced that wells in the Bakken oil fields are officially going back online.
https://ijr.com/montana-takes-matters-ha...=topweekly
I don't get it. What the article says is that with the price of oil going up, they've re-started those wells because they are now profitable. So how is that "defying" Joe Biden?
When oil prices drop again, and this well is shuttered, I expect to see Drifter post the headline
Montana sides with Biden.
(03-13-2022, 08:33 AM)The Real Marty Wrote: [ -> ] (03-13-2022, 05:43 AM)The Drifter Wrote: [ -> ]Montana Takes Matters Into Own Hands, Restarts Dormant Oil Wells Amid Biden's Gas Price Explosion
In response to rapidly rising gas prices, the Montana Petroleum Association has announced that wells in the Bakken oil fields are officially going back online.
https://ijr.com/montana-takes-matters-ha...=topweekly
I don't get it. What the article says is that with the price of oil going up, they've re-started those wells because they are now profitable. So how is that "defying" Joe Biden?
(03-13-2022, 05:51 PM)captivating Wrote: [ -> ] (03-13-2022, 08:33 AM)The Real Marty Wrote: [ -> ]I don't get it. What the article says is that with the price of oil going up, they've re-started those wells because they are now profitable. So how is that "defying" Joe Biden?
When oil prices drop again, and this well is shuttered, I expect to see Drifter post the headline
Montana sides with Biden.
The defying is because they are producing oil from abandoned fields. While most likely not doing much new drilling, these small companies do maintain a lot of equipment and fields that become too costly for what the larger companies want to deal with. The margins are small for them because the quality generally isn't there for the oil being pumped.
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