Quote:
Originally Posted by "W"
When I started in the gulf in 2000 the oil prices were 28-32 dollars a bbl
Don't see this lasting or really hurting the oil companies that have been racking back billions since oil boom in. 2003 to now
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They were drilling for and producing oil at a MUCH lower cost/bbl 14 years ago W.
Some drilling companies are already cold stacking rigs and laying off crews.
No doubt the shale plays where they are fracking on land where it is easy to just stack thr rigd and go count their money will be affected before the GOM. These Major Operators plan these wells years in advance and have so much invested in deepwater projects they cant just cancel the project.
However, if these prices get down to what you mentioned for any length of time and you don't think it will hurt "oil companies" and cause layoffs you need to get your money back from UH for those online accounting courses.