Sign in to follow this  
Followers 0
DR

Former BP Exec "Biden not in war against oil" . . Really ?

Recommended Posts

(edited)

Could have fooled me.

The answer: Tough to be an oil company if you do not have oil.  

BP used to produce 2 mm bbls/day not long ago.  But that included over 1 mm bbls/day from their investment Russia's TNK oil company.  They sold that.  So now they produce around 1 mm bbls/day and 400kK to 500K is from the U.S.

Around 5 to 10 years ago there were about 14 refineries. That has been cut in half to now 7 refineries in England. The producer countries have been integrating vertically.  Oil producing countries aren't satisfied with selling you their Crude.  They want to refine and produce the fuel and the petrochemicals.  

Of course BP wants to transition to "clean energy" ASAP.  Just like France, just like Germany, etc.  You see there are not many oil and gas fields in Great Britain (North Sea depleted) , France or Germany (Germany wants a Hydrogen Economy).

So they want U.S. to spend ten's of Trillions to force fit renewable energy today .   .   .    instead of letting it play out over the next 15 years. 

 

Edited by Roch
  • Upvote 1

Share this post


Link to post
Share on other sites

(edited)

2 hours ago, Roch said:

 

Biden does have a war on oil and gas.  I'm for renewables.  But as Texas has shown last week solar and wind are not going to support all our needs.  

Don't kill oil before it's time.  Many will be hurt. 

 

 

 

.

Edited by Roch

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  
Followers 0