WHEN PBR WAS $50, WHAT WAS DIFFERENT? NOTHING OTHER THEN SUBSIDIES. THEY ABANDONING THE SUBSIDIES, SEE YOU AT $50!!!
Everyone is so obsessed with subsidies, not understanding, that this is not subsidies, that's a tool that they use to balance oil prices. Oil price too high they subsidize, oil price too low, they get more then the price. Obviously market doesn't like that. They abandoning it. What next. You guess. Stock will go to past levels. Why not? What is different. Same oil reserves. They learned how to produce oil from deep levels. That's a major thing. 3 years ago nobody new for certain they can do that. Now they icrease deep water production month after month. Difficulties? Yes. But they learned how to do it and building on it.
I know you are the eternal optimist, but $50? Come on! This thing can't even hit $12,lets be serious and only make logical posts. Between the folks who are filling this board with nonsensical diatribe and bashing, it would be refreshing to hear some news which makes sense. I am just hoping for a gas and diesel price hike which I believe would be a game changer. Good Luck to the board!