The Rising Influence of Rising Affluence

[OakesCS]

Knowing what I know now; I suspect clb has a cost advantage on some of their services that will be hard to beat. However, I suspect that as more of their employees figure out they can make more elsewhere, those cost advantages will decrease but we'll need higher oil prices before that becomes a big problem.

I disagree with the comment about shale oil not making money below $91. But then for a lot of shale oil producers, benchmarking against WTI is wrong. The term oil is used a bit fast and loose. Condensate is the term generally used but I also doubt that term is accurate in most cases. The 'oil' is frequently composed of <C8 hydrocarbons so a good chunk of it doesn't go to gasoline which is where the money is (although if really desperate, some of these 'oils' could be pumped straight into your car and it would run. Maybe not smoothly but that's a different matter)