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

To: Ed Ajootian who wrote (186785)	12/1/2014 9:27:10 AM
From: MIRU	2 Recommendations Recommended By CommanderCricket isopatch Respond to of 206338

Ed, re offshore, the big guys were already scaling back budgets for offshore exploration even with oil at $100+. Their costs of proving up a BBL have been increasing 5 times faster than oil prices. And the long lead time factor makes $100 oil 10 years from now worth a lot less discounted to today. I'm not saying big, deep offshore oil development is dead, just that it will take oil prices way higher than most people believe in order to justify the effort.