ERHC Energy Inc (ERHE)

[nordicroots]

But that is exactly the point isn't it? With the current economic situation and the world sitting on the edge of a "new" recession, demand is not heading higher and prices are not what they were to justify extraction of the higher cost tight oil. All we need to do is look to the output in the Bakken and other shale formations. Their break even costs are higher than the current market for numerous wells. No real reason to put more of those wells onstream unless there weas an economic reason to do so as they are not profitable. That was one of the side effects of the Saudis lowering oil prices.