Sunday, February 15, 2009

Low Prices Create Heartburn for Big Oil

Here are two articles I found that do a fair job of demonstrating that current crude oil price levels are not sustainable long term.

1) No one wants to drill in the arctic (companies need $100/bbl before they start getting excited about the long term viability of such a hostile climate). - from Rigzone

2) Gas to Liquids Technology is refining lots of red ink (Chevron needs $65 to break even on this technology). - from the Wall Street Journal

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