Gulf of Mexico
worth repeating every time until the message is crystal clear
(looking at you Google you absolute boot licking assholes)
this post was submitted on 31 Jan 2025
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Well yeah, considering the exponential growth of renewable energy installations, fossil fuel consumption might drop to close to zero in 2040, and since oil fields typically have a lifetime of ~20 years, fossil fuel companies have less and less of an economic incentive to invest into the exploration of new oil fields.
Not if say Russia is taken out of the global oil market, which looks rather likely.
It's not. Russia will continue to sell oil through India and China.
Though if prices go too low, Russia's oil goes unprofitable before e.g Saudi oil. Trump could accidentally put the squeeze on Putin by drilling more oil lol
Most of Russias oil exports go through ports in the European part of Russia. Those are currently being attacked by Ukraine. For example Ukraine managed to hit an oil pumping station shutting down the oil port of Ust-Luga, which handles 20% of Russian oil exports.
it’ll stay that way if we continue to see low or stagnant oil prices.
The 90s kid in me who watched my parents absolutely losing their shit over $1.20/gallon gas in ~2003 is fucking bamboozled by this statement.
Just to add some context, inflation would make that $2.05 per gallon today.