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In Reply to: Try this one for size posted by Uncle Mike on May 12, 2022 at 08:47:51:
short of overextending themselves on the financial side.These are publicly traded firms and their investors like stock buy-backs and dividends. Can't spend ALL the money on growth.
But the rig count is still going up, albeit at only a few percent per month (seven in the last week).
A thousand by the end of the year? Doubtful but I suppose it's possible. Current price of crude makes sitting on the sidelines a very difficult thing for oil guys.
And while the US may be the worlds largest producer these days? Even with that, US producers can't really change the global price of oil just by raising or slowing production a bit. Not even the Saudis can do that by themselves, even though we are taught to believe they can do that.
First they came for the dumb-asses
And I did not speak out
Because I was not a dumb-ass
Edits: 05/12/22
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Follow Ups
- They are moving as fast as the can... - Ivan303 10:13:47 05/12/22 (5)
- After reading several articles from the NYT and WaP etc. - www.records 12:43:45 05/12/22 (4)
- Fantasyland. Leaving aside your dumbass climate change views..... - Rick W 14:01:35 05/12/22 (3)
- RE: Fantasyland. Leaving aside your dumbass climate change views..... - www.records 19:17:16 05/12/22 (2)
- "So let your Parkinson's do the work." - Bromo33333 07:20:42 05/13/22 (1)
- Dim too. nt - Rick W 13:57:27 05/13/22 (0)