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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: JimisJim who wrote (143129)12/31/2010 7:33:30 AM
From: tom pope  Respond to of 206148
 
Perhaps because the majors did not believe the sustainability of that price? Remember how Lee Raymond was very bearish and would not have approved any project based on oil at anything near that price. Probably would have fired the proposer.



To: JimisJim who wrote (143129)12/31/2010 9:18:35 AM
From: Bearcatbob  Read Replies (2) | Respond to of 206148
 
"And yet when the price of oil went north of $80 the last time (and eventually peaked well above $150), daily oil production did not increase despite "the right price".

That was a spike increase in price. The supply response takes years.


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