Funny reading this realizing how people think they know how companies are run, but don't have a clue. The simple fact is it takes more than $70-80 to make the risk of drilling deep water worth it. Companies whether oil or retail or any type are not going to pay employees and use up cash reserves when demand for there service doesn't exist. It's all about making the company attractive to investors. If they don't layoff to meet demand then stocks sell off resulting in even more layoffs. Cheap gas is very expensive for the unemployed. The situation in Louisiana and Tx is going to get very ugly. Field workers AND office employees are going to hit the street, with little hope of landing a similar position. It will affect housing prices, car sales, entertainment, etc. it will get ugly for many of us, our families, and friends. The effect of low prices means reduced drilling, reduced production, then short supply, the scare of PEAK oil, high prices, then trickle effect of high prices with food, and this awful yo-yo continues. What is needed sustainable prices that are affordable to the consumer and profitable enough to be worth taking the risk.
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