Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: William JH who wrote (51374)	9/18/1999 6:51:00 PM
From: CpsOmis	Read Replies (2) of 95453

<And how are they worse off selling 26mmbpd at $25, than selling 28mmbpd at $15, even if these numbers were to come to pass, which I doubt?> For the very reason that we are investing here.....competition will not keep the price at that point forever...Competing oil companies that can not pump oil as cheap as many OPEC companies become profitable, pump oil they wouldn't be at cheaper levels and drive the price back down....But once they have started pumping, discovered the oil etc, much harder to turn them off...only way to do that is flood the market with oil to drive them out of business...boom...bust....etc....

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