Quote:
Originally Posted by TexasWSP
Nope. Probably should anticipate spikes in a few months.
Even if it doesn't go up exponentially, a decent amount will be great for oil and gas companies. We, for example, would like oil and natural gas to be around 80$ and 8$ respectively in order for us to function like we were before the "crash".
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Maybe, but with those exploration mandates, oil companies would be forced to flood the market with product which in many cases costs more to deliver to market than can be possibly profitable. For example, the last time I heard a serious discussion about shale mining, it was said that it would cost about $37/barrel to get out of the ground.
We do have a crapton of shale oil, but there's really no need to develop that resource while there are so many cheaper places to be drilling.