Still Looking for Oil
Posted on | December 11, 2008 | 1 Comment
This is one of those signs that, just as people with financial skin in the energy game didn’t believe last summer’s $140-plus oil prices, neither do they believe that $40-ish will be the going price for very long. From Bloomberg last week:
Rental rates for deepwater drilling rigs continue to surge as a worldwide shortage of vessels used to search the oceans for oil outweighs the biggest drop in crude prices in a quarter-century.
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Category: energy
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One Response to “Still Looking for Oil”
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December 11th, 2008 @ 10:37 am
You might be interested in the AAPG’s blog post about the future of oil prices: http://blog.aapg.org/geodc/?p=226