Is Big Oil Doing Enough? — A Shining Example of a “Patriotic” Drilling Program
March 2, 2023
Article by Jeffrey Price
Investing in increased oil & gas production should be a national goal as part of the increasingly intense war raging across much of Ukraine. A thrust of that war effort is to replace plentiful crude oil and natural gas coming from Russia. Our “friends” in Saudi Arabia are conspicuously sitting on their hands. Our enemies (e.g., Iran) are gleeful.
The world’s swing producer – that would be the Permian Basin – can absolutely move the needle by ramping up. We have opined already on the CapEx policies of Big Oil, and reiterate our disappointment. However, there is one conspicuous exemplar that is “stepping up”, and that would be Continental Resources. An advertisement that this now-private company placed on the back cover of Oil & Gas Investor speaks for itself – we applaud Harold Hamm’s patriotic stance in this time of America’s biggest challenge since the Korean War. In fact, we support this type of expansion effort by leasing industrial/warehouse facilities in Pecos, Texas.
Like Continental, we at First Keystone are supporting the war effort: We offer high-quality industrial buildings for sale or lease in Reeves County, Texas.
In closing, it is most interesting to note the direction taken by Harold Hamm which diverges significantly from that charted by the Boards of Directors and Senior Management of big publicly-traded oil companies. Back in 1942, shortly after Pearl Harbor, big industry in the U.S. became laser-focused on the war effort – it was that commitment that made possible the decisive U.S.-led defeat of Axis powers. We commend Harold Hamm and Continental for not forgetting that 80-year-old historic lesson.
The opinions expressed above reflect only those of the author and do not represent those of the First Keystone Pecos Industrial Park organization. First Keystone welcomes responsible fact-based discourses on these topics.