Let's hope not. Oil that cheap would decimate the small producers which account for a large share of US domestic production. IMHO the $65 price prior to the recent run in oil prices (which was based in large part on a declining dollar) will hold. Guess we'll find out soon enough.
Let 'em talk and let the MM's keep draging it down. By 2010 or 2011 we all know that oil will NEVER go up again. Right. No buy out in your opinion? We'll see.
The pumper's will pump and the bashers will bash. Let 'em fight each other.
For the time being we are in a flippers dream world. They will make their money. And in the end so will the longs.
Have a great weekend everybody. I got some grandkids to spoil. See ya all next week.
This stock pretty much runs independent of the price of crude. Whilst (love that) oil was hitting new highs along with just about all O&G stocks, Hemi was in decline.
Therefore, the PPS could go up depending on discoveries and such. No?
I see this crises as an opportunity. If Hemi can manage to sell more leases or get there insurance payment, they would be in a great position. In the middle of a credit crunch, CASH is KING. A lot of companies SEK that got over extended were betting on high oil prices. If played right Hemi may have a lot more to offer in the future.
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