File:Oil companies 'thriving' - 2024.jpg
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Why Is the Oil Industry Booming?
- High prices and growing demand have helped U.S. oil producers take in record profits despite global efforts to spur greater use of renewable energy and electric cars
Via the NY Times (Unlocked/open access article}
July 16, 2024
For all of the focus on an energy transition, the American oil industry is booming, extracting more crude than ever from the shale rock that runs beneath the ground in West Texas.
After years of losing money on horizontal drilling and hydraulic fracturing, the companies that have helped the United States become the leading global oil producer have turned a financial corner and are generating robust profits. The stocks of some oil and gas companies, such as Exxon Mobil and Diamondback Energy, are at or near record levels...
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| current | 17:03, 16 July 2024 | | 600 × 716 (87 KB) | Siterunner (talk | contribs) |
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