@PhilMyers53 Adheres to the international market, highest bidder get the oil regardless of what country it’s located in. Unless Trump nationalises or issues export controls
@Investor_Miller@dorfman_p Have a day of Stephen by the time they’ve explored the little we have left Trump will have flip flopped and oil will come down and won’t be economical anymore
@dambury67@StoneAlun@Suewilson91@grok It’s still cheaper than the fossil fuel alternative and long term someone will solve the problem (I actually think musks firm has large scale battery storage facilities)
@Bills_gallery@johnredwood I agree some of the net zero policies are ridiculous but this whole North Sea oil narrative is being spouted by compromised Westminster politicians will be getting generous donations from the oil majors and their lobbyists. Don’t fall for it
@Bills_gallery@johnredwood UK has already depleted most of its easily accessible reserves, any oil and gas exploration now would require far deeper extraction + the way Trump flip flops by the time we’ve gotten to it we’d probably be pumping it at a loss..
@Bills_gallery@johnredwood Secondly corn wheat don’t have that issue and are less capitally intensive and literally just require harvesting by the farmer each crop cycle
@Bills_gallery@johnredwood A number of reasons this example is a poor one. Firstly crude from the North Sea is mainly refined abroad therefore it’s not as simple as just pumping and selling domestically so there’s added logistical costs there which makes it more efficient to buy from abroad
@Bills_gallery@johnredwood No Bill, gas and electric is sold to the highest bidder on the international market. Increasing our output wouldn’t make a difference. Government tax receipts and oil and gas profits would be the only thing that would increase