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A comment on America produces enough oil to meet its needs, so why do we import crude?. Parent comment

Re:America produces enough oil to meet its needs, so why do ... by jhallenworld on Tuesday March 08, 2022 @01:29PM (#30603775)
And how much do they pay to extract the oil from public lands?

This is very relevant because of this new thing that just happened. There was an auction for rights to install an off-shore wind farm. The final price was $4.3 billion. This tells you the value of green energy: it's so valuable that you could convince investors and banks to pony up the money.

https://www.cnbc.com/2022/02/25/us-offshore-wind-auction-in-...

So what are the auction prices for oil extraction?

https://www.denverpost.com/2021/10/07/john-hickenlooper-oil-...

[ Parent | on HN ]
Re:America produces enough oil to meet its needs, so why do ... by cpleppert on Tuesday March 08, 2022 @03:17PM (#30606233)
State commitments in New York and New Jersey mean that off-shore windfarms are guaranteed to be profitable. The cost of extraction doesn't equal the cost of the land or right to drill for oil.
[ Parent | on HN ]