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Re: not all the arabs are dead yet
Equilibirum in oil is about $70 a barrel. For natural gas it's around $7 an MCF. You can actually survive on much less than that. The floor is around $20 @ barrel for oil and $3.50 @ MCF for gas.
What fucked everyone wasn't so much the prices as it was the disentegration of the credit markets. Drilling is an unbelieveably capital intensive thing to do. Unless you are Exxon/Mobil, BP or RDS or similar the only way you can operate is via the credit market. When that dried up there was no more money to do anything.
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"Some of the most successful relationships are based on lies and deceit. Since that's where they usually end up anyway, it's a logical place to start."
Power corrupts. Absolute power corrupts absolutely. But it rocks absolutely, too
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