Bobwins - Groppe on oil.
Thanks for finding this video. $80ish/bbl oil is fine with me. Our smaller drillers can make a ton of cash at these prices. I think the majors are going to have a hard time growing production, none of them can double, tripple production, like TXCO, CXPO.OB, POE.V, PMG.TO, etc. Groppe looking out 7 years seems like forever.....I just wonder what inflation and $USD will do to his forecast. I have also been sitting on AOS.V, all of those barrels must be worth something some day.
Another point that Groppe makes is that high prices will cause people to change behavior. I agree with that, I have changed my behavior this past 2 years by parking my big Dodge P/U(12mpg) and buying a diesel Jeep Liberty(26mpg). I also installed a pellet/corn stove in the basement, reduced my natural gas use in half!
Just sitting and molding with my drillers.
Kipp
