Drill here drill now.
In the last 24 months, an independent oil company purchased a lease, drilled a well and started delivering 2,000 barrels per day in a new discovery off Alaska.
With red tape it took too long. Add red tape to a Major oil company it could have been 42 months.
The Russian stock market crashed. It fell by 60% and trading was halted many times. Most of their stock value was energy. After the invasion of Georgia the Russians lost 600 billion dollars value. What an indirect cost of their wartime. I can give a long list of oil related problems in Russia and they do not line up Russia doing well. Drill Baby drill hurt russia by hundreds of billions. Yes the Russian stability is dangerously connected to oil prices and currency from their primary export.
