Oil Companies Expand Offshore Drilling

https://www.nytimes.com/2024/05/03/business/energy-environment/shell-offshore-oil-gulf-of-mexico.html?unlocked_article_code=1.pE0.8136.S6nKSxmPIeUl

by silence7

4 comments

  1. What’s absolutely messed up here is the idea that people will burn the same amount no matter what. In a world where it’s cheaper to decarbonize, leaving a deposit in the ground will result in people finding ways to avoiding the need for oil in the first place, rather than drilling elsewhere.

  4. Sold my BP shares but I’ll be back when the world lulls itself into a false sense of security long enough for a good entry. Investing in oil is like betting on global unrest.

    Tangentially drilling will never stop so long as there’s a drop of oil anywhere. There is a floor of demand for essential things like the military and if it came down to it all these protections would be waved aside in a heartbeat.

    Shell got a better mindset than BP on that. >:(

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