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e"war profiteering," taking aim at businesses' record profits as households grapple with soaring inflation. One of the dumbest political soundbites was President Obama saying, about a bridge, “You didn’t build that.” His basic argument was sound: government not business provides public goods like infrastructure.
Politicians—like most of the population—generally have no sense of economics, let alone business, and frequently take steps that are economically irrational because they don’t perceive the costs being inflicted on companies. Most egregiously, setting regulations and then canceling them means that companies are forced to make investments to satisfy them, and then write them off as losses.
But also, if governments take steps that interfere with project developments, the delays add to costs but again, in a manner that isn’t very transparent. A company that buys a lease in the Gulf of Mexico and then finds drilling or development delayed because of a government interdiction is bearing a significant cost—the interest payments on the money spent for an idle project. And if production is postponed, the net present value of the investment drops, sometimes significantly.
In the figure below, I compare the discounted present value of an income stream from a stereotypical shale oil well . In the first case, the well is drilled and brought on line in a couple of years and then production and revenue start and decline abruptly, as is typical for such wells.
Unknowingly?
Right ... Unknowingly.
Trust me it was intentional!
That’s a shame, I am sure the oil industry will be able to recover providing their market turnover and profits stay on course.
“Unknowingly” Mawahahahahaha
“Unknowingly”? Absolutely done knowingly.
'Unknowingly'
They have said in public that they want to kill all fossil fuels by some arbitrary year in the future. Without some sort of equal alternative, they’re asking for the death of hundreds of millions.
Ima cry my eyes out for ExxonMobil GTFOH
Planned
فضيحة_كشف_المنح_اليمنية انقذوا_جرحى_الجيش
Unknowningly? Good joke .. .
Who writes for you guys anyway? Goodness 🤦🏻♂️
WTF unknowingly?! The administration didn't have a clue a about what it takes for the energy transformation. It not only hurt the oil industry but consumers at large. I understand the need to support Political agenda. This is just being clueless!!
No sympathy for the devil
They all literally said they wanted to end fossil fuels.
FACT CHEVK: 100% FALSE! They knew EXACTLY what they were doing from the moment POTUS aka JACKASSJOE assumed office! Their collective goal was to kill all fossil fuel industries!
Unknowingly? They are scum.
The oil industry that is raking in record profits?
? Oil hasn’t made more profits. 🤭🤭🤭