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Politics : Formerly About Advanced Micro Devices
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To: Elroy who wrote (244408)8/1/2005 11:38:42 AM
From: combjelly  Read Replies (2) of 1576348
 
"If their cost of exploration goes from $3 per barrel now to $1.50 per barrel after passage of the bill, you don't think they are going to increase exploration?"

No.

"Explain that to me."

If $60 plus a barrel isn't incentive enough, subsidizing oil exploration isn't going to do it. Since all of the small oil exploration companies went out of business during the Bust, oil exploration in the US has been at a pretty low level. During the Boom, when oil hit $30 a barrel, they were looking under every rock. Now they aren't, despite oil being a lot higher.
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