[SoConPubbie]

I would expect supply to start rising over the next couple of years, but every oil rig and drilling ship in existance is already booked for the next few years, so don't expect prices to drop to below $100/bbl for several years if ever.

So?

Build more!

There is no problem unsolvable on this issue.

We simply need leadership!

[6ppc]

Build more!

I agree, but I suspect new rigs and drilling ships are being built as fast as they can be. I know that if I owned a drill rig fabrication company I'd be running three shifts right now. Drilling ships are a different matter...you need dry docks and we just don't have much ship building capacity in the US.

I'm basing my opinion on stuff I've read here on FR, not on personal research.