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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Chuzzlewit who wrote (17933)4/3/1998 4:55:00 PM
From: waverider  Read Replies (1) of 95453
 
>>Luigs and many others have pointed out that the best environment for the drillers is one in which there is sufficient profit per bbl for the majors to continue funding exploration, but not so much to result in significant drops in production rates (which would decrease the need to find new reserves).<<

I think we talked about this before, but you clarify for me why the majors would drop production rates if the price of oil jumped too high?

Rick Hydrocarbon
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