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Re: Jim is Jim post# 80744

Thursday, 11/06/2008 2:51:11 PM

Thursday, November 06, 2008 2:51:11 PM

Post# of 147350
it means that companies will not -- cannot -- go after new oil in hard to get places (which is where all of the significant finds of new oil are) because the cost of finding it and producing it has climbed to over $80/bbl net.

Dude - if gas stays cheap and the marginal cost of finding new supply is expensive - then by any definition of "market" it means demand has crumbled.

So what's the problem?


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