There are hundreds of drilling rigs out of service

Back in 2014 oil was over $100 a barrel and the USA had about 1,600 active drilling rigs.
As of October 2022, we have less than 800 active drilling rigs with oil around the $85-90 mark.
https://bit.ly/2MPI8bJ
https://bit.ly/3CqnR49

Why do we not have more drilling rigs drilling more wells to produce more oil to bring the price down?
There are several reasons, however, I think one of the strongest forces holding back oil and gas exploration is that many State and Federal Governments want to replace oil and gas with electricity.

If we go to high school science class, we can see that nearly everything we need uses carbon as one of building blocks.

Good luck building a solar panel, wind turbine or battery with alternating current.

If you would like to learn how to be part of the solution to the world's energy crisis and know how you can take advantage of a Royalty Income from a producing Mineral property, be sure to contact us at your convenience. Just visit our website for the contact information.

#recession #inflation #stagflation #hyperinflation #energy

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This video is meant for educational or entertainment purposes only. This video is not a solicitation. I am not a lawyer, CPA or financial advisor and I am not giving legal, financial or tax advice.