Try to use academic or good sources in your answerAt what price per barrel of oil, does it become economically viable to operate a drill rig domestically?
The US has only about 8 years worth of oil reserves. After that, we'll be even more dependent on foreign oil, like 100% dependent. The wiki article at the link below if very informative.At what price per barrel of oil, does it become economically viable to operate a drill rig domestically?
If they had any sense, they would go ahead and drill here. The foreigners could withhold the oil from us at any time, then prices would shoot up again, even more, and that's if we could get it.
If we drill for our own oil, when we did buy from other countries, it would drive the price down, because we wouldn't really need it, and they would have a surplus.
Plus, why depend on others for our needs. They can drill now with minimal damage to the environment, and there is plenty in Alaska and off shore.
The conservationists will be ticked at themselves, and have America mad at them when they can't even pull their car out of the drive, because no one here has gas.
Or, when they can't afford food because what supplies that could be shipped, would have a tremendous charge added. But how are you going to pay for it if you can't get to work? It's just stupid to depend on others.
Somewhere in the mid 50s. Drilling has picked up soon after oil passed that price.
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