[thackney]

$40 is not a break even point. It is a point so low with today expensive production that we would surely have large layoffs in the industry and idle rigs setting around.

Let me look later at the refinery acquisition prices versus gasoline averages to guess at the $2.50 price.

[OHelix]

$40 is not a break even point. It is a point so low with today expensive production that we would surely have large layoffs in the industry and idle rigs setting around.

I misunderstood why you referenced that particular price. My memory was that $40 had been a historic high prior to Katrina.