Putin's threats against Ukraine could reinvigorate the U.S. oil and gas industry

[orangecrush]

Last edited Wed Feb 16, 2022, 11:05 PM - Edit history (1)

Russian President Vladimir Putin has long made it clear that he is no fan of U.S. shale drilling. But, if he invades Ukraine, he may unwillingly help bring back the American industry.

Like other global producers, the U.S. industry was crushed by the pandemic in early 2020. Oil prices crashed, and prices for crude futures even turned negative on the CME for a brief time. An extremely chastened U.S. industry reemerged, with executives more cautious than ever about throwing money down oil wells and angering shareholders.


The U.S. industry has been making a slow comeback, helped by rising oil prices, which are up more than 50% in the last year. Putin's threats against Ukraine have helped drive an already rising oil price well above $90 per barrel to a seven-year high, with nearly 30% of that price rise since the start of the year.


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https://www.google.com/amp/s/www.cnbc.com/amp/2022/02/16/putins-threats-against-ukraine-could-reinvigorate-the-us-oil-and-gas-industry-.html

[Lovie777]

1. it has....

[JohnSJ]

2. I think that would be a very likely speculation

[dweller]

3. War is always profitable

for the profiteers…



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