"Drill, baby, drill"? What for? Looks like the #
oilmarket is saturated and demand will be decreasing. Yes, it's #
PeakOil demand, thanks to #
electrification and #
ClimateChange policies. According to
@Grist: "The Gulf [of Mexico] accounts for 97 percent of all offshore oil and gas production in the U.S. Nearly 12 million acres are under active leases in the Gulf, but only about 2.4 million acres are being used to produce oil and gas"
grist.org/energy/trump-wants-m…Graph from the #
JRCGECO report.
Despite President's Trump directives, oil companies can't drill if there is little market for their product.
Tristan Baurick (Grist)