Is "drill, baby, drill" really good for the oil companies? After all, the increased supply is causing the price to fall.
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@Chandra As far as I know, higher supply can depress prices in the short term, but large oil companies still benefit from higher production volumes and economies of scale. Geopolitical uncertainties often keep prices stable. So not necessarily bad for oil companies. 😶 But I may be looking at it the wrong way.👨🏻💻
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@junio I think it's better if it's not @Chandra that improves you, but the world bank:
https://blogs.worldbank.org/en/developmenttalk/what-triggered-oil-price-plunge-2014-2016-and-why-it-failed-deliver-economic-impetus-eight-charts
In a nutshell:
The US and Canada increased their oil production through technologies such as fracking and oil sands extraction, leading to an oversupply on the global market.
Result: oil price down, profits down and shares down with it
Why should this time be any different?
https://blogs.worldbank.org/en/developmenttalk/what-triggered-oil-price-plunge-2014-2016-and-why-it-failed-deliver-economic-impetus-eight-charts
In a nutshell:
The US and Canada increased their oil production through technologies such as fracking and oil sands extraction, leading to an oversupply on the global market.
Result: oil price down, profits down and shares down with it
Why should this time be any different?
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•@PowerWordChill Are you saying that you trust WeltBank more than me? 😭
Am I not serious enough for you? 😱
Am I not serious enough for you? 😱
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•@PowerWordChill thank you 🤝🤝
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