Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: combjelly who wrote (244409)	8/1/2005 2:22:38 PM
From: tejek	Read Replies (1) of 1576619

"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. It doesn't matter........all the rigs are under contract. There can be no more exploration even with the subsidies. And most of the exploration is for natural gas. ted

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