View from the Center and Left Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : View from the Center and Left

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: 8bits who wrote (72413)	6/16/2008 4:00:03 AM
From: Cogito	Read Replies (1) of 542571

>>As Quehubo pointed out it takes years for a new field to be developed. As recently as November 2001 oil was $18 a barrel. Even as recently as 2003 oil averaged $27.69 for the year. It's really just been in the last 2 and 1/2 years that most of the oil companies realized that oil prices were going to stay higher, ie making previously uneconomical ventures now worthwhile to pursue. Large fields can take many years to develop, especially in the more challenging areas that are left for US oil companies to explore.<< 8bits - Exactly so. They haven't started producing in the places they can do it, because of economics and/or a shortage of skilled personnel and drilling equipment. So why don't we stop blaming Congress, who only call the oil companies to testify in order to be able to tell their constituents they tried to do something about high fuel prices. - Allen

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next