A company bidding for an Arctic lease in 2017 will be hoping to sell oil in the latter half of the next decade. So, if the lease is cheap enough and it doesn't mandate development, there's not much risk from putting in a bid.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.