Replies to post #271 on Credit Suisse X-Links Crude Oil Shares Covered Cal (USOI)

[shotsky]

There is a lot more to getting oil out of the ground than just putting up rigs. Oil companies have 'leases' but are forbidden to drill them right now. That is on Biden. Once they have permission to drill, there is a whole lot of time used up getting the proper drilling sites identified, getting permits, buying equipment and actually putting up the rig. Then, if it is productive, it takes getting the crude to a refinery, and making the products that the crude is good for. If not productive, rinse and repeat.
That is why I said months.

[hotdawg]

They all benefit from higher prices on oil. we would not have this problem if biden would open up the keystone pipeline.