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Thursday, June 16, 2016 9:10:26 AM
If people have not awakened to the reality of range-bound oil, please tap them on their heads. It's here to stay (barring any major calamity/catastrophe like war or a 100 mile meteor striking the earth....)
Once everyone accepts range-bound oil, guess what, cost of extraction will have to fall in line. Adapt or die. If you want to operate within the oil exploration and extraction biz, you must fall in line and price your services accordingly. If not, someone will step in and take your place because they figured out how to do it cheaper, or because the contribution margins are acceptable. IT WILL NOT BE BUSINESS AS USUAL.
All other industries evolve and adapt to pricing pressures, oil will be no different.
There's a message here somewhere.....uhh, drill already, because that's what you HAVE to do.
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