Borzak
Bronze Baron of the Realm
- 25,790
- 33,668
Price of oil has been dropping, been told by numerous people who should know including a large oil CEO that if drops to lower than $60 and stays there for an extended period "odd" things will happen in the oil industry. Not sure but I think they are hinting that in the US the profit to drill sharply gets less and less. More imported oil I guess.
XOM picked up a near trillion dollar worth of oil in Africa for a very small amount that they had to put up front.
XOM picked up a near trillion dollar worth of oil in Africa for a very small amount that they had to put up front.
- 1