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YourOldCellphone t1_j22g8hk wrote

Shoutout Trinidad and Tobago for having strong morals. Fuck those companies. Straight up trying to destroy the planet for profit.

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TexasAggie98 t1_j22nw0k wrote

I can tell from your comment that you didn’t read the article.

Trinidad didn’t reject the BP-Shell consortium’s bid due to morals; it was rejected for not being high enough.

Trinidad wanted a higher lease bonus and firm drilling commitments from the consortium. The consortium offered a low bonus and only offered a commitment to shoot and analyze 3-D seismic.

What this means is that the blocks offered aren’t that prospective and the international oil companies didn’t want to commit hundreds of millions or billions of dollars of exploration capital without a better understanding of the geology.

A deep water well can cost over $200 million; a company isn’t going to commit to multiple wells without multiple defined high-quality prospects.

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SimUnit t1_j22o4o8 wrote

Let's not give them too many plaudits...they only rejected the bids because the offer from BP and Shell wasn't sufficient.

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