How low will it go???
this price shows that the peak oil events is neutral to the oil companies. sure they make more, but more needs to be plowed back to pursue deeper and more remote oil.
Hi snow-tracks,I think that's quite an astute observation. The higher the price, the more a BP may pay to explore/find/produce a barrel. It's a bit self-defeating, and profits per barrel may be surprisingly "stuck".
Yes, I've seen this bottom!http://www.foxnews.com/images/173523/0_23_081705_jessica_butt.jpg