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ron122 To the wealthy elites who run these companies? Nothing, Darron's grinning like a Cheshire cat right now.
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Heartlander Aren't those profits coming from imported crude?
Some of it is; Exxon does own wells abroad. But it's important to remember that oil prices are up worldwide, which means that profit from domestic production (which is predominantly exported) is still increasing dramatically.
much of it is about the thousands of workers being laid off because of domestic oil policies.
That's not what happened; if it were just the oil leases, production wouldn't have gone
down on this timescale. At worst, they'd have stayed roughly constant, and that's before accounting for all those unused oil leases. During the pandemic, people were driving way less, which meant less demand for oil. That meant oil companies had to cut production, closing down wells and firing personnel.
Whenever demand shot back up, they didn't increase production all that much because... why would they? They were rather comfortable, prices were high, it's like printing money. Besides, recomissioning an oil rig is expensive, and the bastards know that up and coming technologies are just gonna replace them anyway. They're dinosaurs. And as a result, the prices stay cranked up, the workers get laid off, and working families suffer. Not as sensational as what you thought it was, but sometime's the truth is boring. I don't make the rules.
