Quote Originally Posted by Jeril View Post
How many actual barrels need to be sold at those prices before they see a profit? How long does it take to create a new well? How long does it take to produce and sell those barrels? If they opened up all these new wells how quickly will prices drop? How far will they drop? What incentive do they have for opening new wells other than people's feelings?
These are all points I have been trying to get across to him, but all he can come up with is "Duh........they purposefully not drilling for more oil because they want high oil prices!!!"

Oil was literally selling for negative dollars just a couple of years ago because of government shutdowns, the same government who now says they want to end fossil fuels forever. How dare the oil industry worry something like that can happen again.

Speaking of oil selling for negative dollars, this just goes to show how stupid Seran is for thinking the oil companies set the price of oil on the commodities market. If they did that do you really think they would have sold their product for negative dollars?