GREY:ROAOF - Post by User
Post by
goose94on Dec 11, 2008 9:35pm
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Post# 15641806
Takeover target
Takeover target
Meanwhile, other things today show you that down the
road, supply destruction will be an issue as companies as
diverse as Petro-Canada, Nexen and Encana decrease
exploration budgets significantly.
Oil and gas analyst Warren Verbonac reminds us that
with depletion on most mature fields averaging about 5% a
year and recent or new fields depleting production at 20%
or 30% a year, if you don’t look for new oil and gas, you
don’t find it and down the road, there will be less oil
around should anyone ever want it. But if the Saudi’s and
Russian’s don’t cut supply on December 17…?!