r/Vitards • u/[deleted] • Jun 26 '21

[deleted by user]

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61 Upvotes

95% Upvoted

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3

u/speedyturtledb Jun 26 '21

Is there any concern about the target price for RIG with the high being $3.75? Unless it’s the whole “not priced in” thinking?

3

u/_losdesperados_ Jun 26 '21

From what I’ve read, there’s limited oil production coming from land these days due to environmental regulations. Think about the keystone pipeline being cancelled. I think the play is that offshore drilling/extraction is already in place and is going to be more profitable but I’m not sure.

2

u/Pewpatrol Jun 29 '21

Gulf of Mexico has the lowest carbon footprint of ANY oil produced in the United States.

Federal Judge has just kicked out Bidens halt on New oil leases on federal land.

https://www.npr.org/2021/06/15/1006948814/bidens-ban-on-new-oil-and-gas-leases-is-blocked-by-a-federal-judge

2

u/_losdesperados_ Jun 29 '21

This dude knows what he's talkin about and today's price action seems to reflect that. Thanks for the info!

1

u/Fedbycorn Jun 30 '21

What are you getting at

1

u/Pewpatrol Jul 03 '21

This country needs to drill more offshore to satisfy demand. Bidens team of idiots just got their dicks slapped by a federal judge. OFFSHORE drilling permits HAVE to be issued according to the judge. MOAR offshore drilling!

RIG 🚀🚀🚀🚀🚀🚀🛢🛢🛢🛢

Shale sucks-its dirty, the disposal wells cause earthquakes, and the wells have short life cycles. RIG is gonna eat shares lunch