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Gold/Mining/Energy : Ensco International Inc. (ESV)
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To: Gottfried who wrote (1921)9/24/2000 4:10:48 PM
From: Zakrosian  Read Replies (1) of 2005
 
Suspending drilling as a result of the storm makes sense. And the oil release comes to about one and a half days' consumption; call me cynical, but I don't think the decision had a whole lot to do with having a long term effect on oil prices.

My guess is it's just a matter of time. As Zeev Hed pointed out on another thread, at 25 to 30 dollars a barrel, extracting oil from the shale deposits of western Canada and the US becomes profitable, so that would seem to be the mid to long-term ceiling on prices.
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