[Cowboy Bob]

Prices are already dropping with the news...

[Pearls Before Swine]

This is just crap. The industry can withstand any low price... for a short time. But, oil demand being what it is, a continued low price that goes on for a year will cause a self-correcting decrease in supply which will raise the prices.

[cicero2k]

Weird. A collective 15% reduction in production could yield 100% increase in revenue, netting 85% gain.

But they don’t, because of self interest. Plus, eventually, alternate production will squeeze them further so they would need a 20% reduction in a few years, etc.; until they are irrelevant.

So now we have a $50 ceiling, forever.

Game theory, being played out.

[Awgie]

The Green Godess Mother Gaia will be on the phone with Algore and her other earthly minions, trying to thwart all attempts to make “OIL” a cheap affordable long term source of energy.

She has big investments in windmills and electric cars and rubber bands.

[Don_Ret_USAF]

With the lower oil prices. It wouldn’t it be a good time to fill the emergency oil reserve.
Don