As soon as you close the well?How long can you shut a rig down for before it causes issues?
As soon as you close the well?
Not reallyAs soon as you close the well?
Not really. Whether you're an eco-warrior or a petrol guzzler this is not good news.Great news for the planet though
Not really. Whether you're an eco-warrior or a petrol guzzler this is not good news.
Our way of life is completely dependent on oil. Take plastics for example. Unless my memory serves me ill, most plastics are produced using oil based feed products produced during the refining process. Petrol is often a by product (or vice versa). But we should have a few experts on here who can confirm.
There's already a world wide shortage of polypropylene for filters. I ordered HEPA filters two months ago (based on spun polypropylene - same stuff they use to make medical masks) and was told I'd have to wait till June because of a shortage of polypropylene. Normally they arrive in a week.
And surely there are still thousands of jobs on Teesside that rely on oil and refinery products. The double whammy of an oil price crash and Covid-19 will decimate industry and create mass unemployment (if it wasn't already happening).
And then there's the small matter of all those Middle Eastern countries, Venezuela and Russia that rely on oil as a primary source of income. How is Iran or Russia going to react to their people starving? Venezuelans were already short on food and medical supplies.
Low oil prices for an extended period will create turmoil in geo-politics, and could result in war.
Even I know it's not as simple as that.As soon as you close the well?