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To: SunkenCiv
I believe companies are already starting to cut back.

I can't find anything real recent to show current numbers.

The downturn has been going on for about 6 mos now. It'll take a little while for todays production totals to become known. Also, it takes a little while for market conditions to affect the industry. We just started to see the beginning effects.

Until now, it's been a waiting game, to see what was going to happen. Companies have been reluctant to halt production in hopes that prices would rebound.

Once stopped, it's not as if production can be turned on to full speed in a matter of days.

Also, how much $$$ is invested into infrastructure and processing while prices are down??? It's kind of hard to pull the pin on multi billion $$$ projects, that are currently moving. But on the other hand, when prices are low, it's hard to spend capital that is no longer coming in.

A lot of gambling is going on right now. Everybody's watching to see who will blink first.

Shutting down now, could be costly if the downturn is short lived. On the other hand, the longer this goes on gets costlier.

58 posted on 01/13/2015 1:03:09 PM PST by mountn man (The Pleasure You Get From Life Is Equal To The Attitude You Put Into It)
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To: mountn man
I believe companies are already starting to cut back.

US drilling, yes. Production from wells already drilled, no.

59 posted on 01/13/2015 1:37:56 PM PST by thackney (life is fragile, handle with prayer)
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