Still Looking for Oil

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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