aggiehawg said:
Quote:
Why not, for all practical purposes?
The oil isn't going anywhere. And, we are not going to forget how to get it out of the ground.
Buy the super cheap oil while it is super cheap. Maybe the US government fills up its strategic reserves to the brim to save for a rainy day. Then, drill at 10% of peak capacity just to keep the best guys sharp. When oil returns to reasonable levels again, hire the workforce back at 1.5x regular cost, quit importing oil, and get back to work.
Painful cycle, I know, but everyone maximizes wealth that way.
As part of infrastructure, fast track additional storage facilities, perhaps?
Yeah, like why the hell are Ford and GE building 50,000 ventilators?