the oil patch has been on the outs, now oil is starting a comeback, either the price has been beated down enough or the "market " needs more oil....... makes no difference to me. see you higher
No it's not! Natural gas is being pushed much higher at the moment and Obummer is doing the pushing. Not good for oil if a lot convert.
It takes many years to convert and very expensive. Plus, even if the long term price of oil declines, it will be because of increased US production. The volume will drive the profits.