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One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. The collapse of oil prices, however, could kill off the megaproject.
Oil and gas companies have had a tough time over the past year trying to weather the storm of falling oil prices. But the political and financial winds are moving in the wrong direction for the industry, raising more “above ground” problems at a time that they can ill-afford it. by Nick Cunningham of Oilprice.com.
Those regulations were supported by Tesla – whose CEO just committed $180 million to the same person who seems to know nothing about the industry Tesla operates in. They could have been better, but after lobbying from the auto and oilindustries, those regulations were softened compared to the original proposal. Lie number two.
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