The Rising Influence of Rising Affluence

[OakesCS]

On the 1st part: my point was that using a $/bbl oil benchmark doesn't make sense for most producers from shale. The price break is probably more closely related to the price of natural gas.

On the 2nd part. I think there are probably big salary disparities between CLB and some of the competitors trying to compete with CLB. At the moment things are a bit static and I think more folks are worried about keeping jobs than seeking out higher bidders. That will change when economies around the world get back in sync and oil demand increases.

The job situation in the oil patch is not like 2007. It's not like 2009 either but I suspect more people are worried than greedy.