Boys1>so they knew it was high risk based on the seismic but...

Boys1>so they knew it was high risk based on the seismic but decided to complete it anyway - doesn’t this prove they either don’t trust the seismic or wanted to chance it anyway.

Depends on the resolution. Is that a $ sign? Looks like a $ sign. Better go have a look.

And in other news,. I mean WTF. G7 wants oil price cap on Russian crude installed by December 5th.
https://oilprice.com/Energy/Crude-Oil/G7-Presses-Ahead-With-Russian-Oil-Price-Cap.html

So: Season adults, that are in positions of power, think they can legislate price? Badger is going to have to go out and buy some popcorn here. How are they going to sell this idea? "Yep, Russia wont sell us gas, because we won't pay the market cost. It's the law. Your all going to have to freeze this winter." Is this a vote winner?

The Brits did something similar after the black death. So many people died in the plague that the price of wages went sky high. To counter this, the ruling elites passed a laws on the maximum wage that could be paid. Land owners were presented with a choice. Break the law and pay the wages. Or let your fields lie fallow. I wonder how that affected inflation.

For this oil price cap to work, they will have to get India and China on board. Let's assume they do manage this and the whole world turns on Russia. What would the effect be? Russia will use the product itself (*1) or smuggle it via middle men. The second order effect would be a huge price spike as the free market is deprived of a supplier. ie Oil prices go up.

Can anyone explain how this turns out well for the west? Clearly badger is missing something. No one can be that stupid.

All disclaimers. Badger apologies for use of WTF. But feels it's justified.

(*1) Gas is hard to store. I would be building fertilisers factories to convert hard to store gas, into easy to store fertiliser, with an indefinite storage time. After all, the world is always going to need food.

The US is doing something similar. Rather than building LNG export terminals, which have a payback of 20 years and could be illegal in 10. To sell the gas to Europe. They are building solar panel factories which use cheap gas in their manufacture process. And export the panels to the EU. Thus, exporting energy in silicon form, rather than hydrocarbons.