How are you going to survive?

Even the oil industry runs on credit and banks won't lend because of ESG score.

 

Kind of along that note:

I suspect the memory of how much was spent on the Keystone pipeline, just to have it shot down by the stroke of a pen, is still pretty fresh in the mind of investors. I don't know if there were reparations for the expenses incurred or not, but once the government okays a project neither party's new president should be able change that.

 

I guess what does importing Canadian oil have anything to do with US projects

 

You really don’t see how that could make companies here nervous? Regardless of where it was coming from and where it was going it was killed by executive order. What if they decide to just do away with the 9000 current leases regardless of what state of drilling or producing they’re in?

 

I know this is a trucking forum and the cost of diesel to run trucks is the primary focus here, as it should be, but consider this:

One of our excavators burns 13 to 15 gallons and hour and making it more aerodynamic doesn't seem to help! The events of late are likely to double or triple the cost of infrastructure improvements. Materials are on back order now and that will only get worse for things like steel, cement, geo textiles, etc. At least until demand falls flat on its face because nobody is spending on anything but absolute necessities, which may be sooner than later I'm afraid.

The idea that the government should be able to control the fate of an industry according to current political trends is scary. I'm all for all types of energy, green or otherwise, and let the efficiency and cost determine which will succeed. Just imagine if truck engine manufactures had been able to apply all of the resources spent on meeting emissions toward just improving efficiency. I believe a good argument could be made that the net impact on the environment would have been lower than the route taken.

I don't have the answers, just food for thought.

 

So you are suggesting that no oil produced in the US would have been allowed to utilize that pipeline in the future? And furthermore, if we are now buying oil from Russia, wouldn't it have made a lot more sense to facilitate the purchase from Canada?

 

Currently the US buys 22,000,000 bbls of oil from Canada per day.

On the same note is buys, or did buy, 1,200,000 bbls of oil per day from Russia.

 

I agree, I don't see rates slipping to much if at all. I also don't see truck prices ever coming back down much , old or new.

 

Perhaps with the pipeline we wouldn't need to purchase any from Russia?

I don't know, but with the previous administration we were ostensibly an oil exporter, now we are not. I can't help but believe that the current administration isn't responsible for the change.

 

How to survive? My Dad always said learn to live on half of what you earn. That is something Americans are about to experience because the price of everything is going to double.