sponger

Oil Industry: Farewell, Good Old Days

Once again, in this chicken/egg issue, we are failing to recognize that
it is a rising dollar that has caused falling oil prices. The world's need for oil will not diminish until a satisfactory replacement is functional.

In fact, prices will reverse eventually as drilling/production is temporarily
curtailed due to lack of credit financing for those enterprises. It may also follow that exploration/drilling activity will move over to cash- rich large cap integrated companies for the time being.