http://oilprice.com/Energy/Energy-General/Why-the-Oil-Majors-Face-Inevitable-Decline.html
http://oilprice.com/Energy/Crude-Oil/The-Offshore-Oil-Business-Is-Crippled-And-It-May-Never-Recover.html
6 replies (most recent on top)
Heard it all before. They only real long term change will be driven by another soarce of energy ... Fusion or something ... Because until then it is just the same old commodity fluctuations ... Painful but short lived.
This is only sobering for newbs to O&G and Johnnie-come-lately's. We have been going through ups and downs and layoffs every few years since the Gulf Merger in 1984. You guys are just children and whiney babies. Do you know how many crude cost cycles, mergers and layoffs that many of us have been through? This is just business as usual for a lot of us. "Sobering" LOL Too Funny!!
@HG3A2EN-ije, You have a life partner that you normally insult? Don't you think that's kind of rude? I assume you mean that you are gay and refer to your lover as your life partner. There's nothing wrong with that, we don't judge. But don't post about insulting him anonymously online. He's not even around to defend himself. I think that's rather rude of you to talk about insulting your gay lover online anonymously and "making hole" and things of that nature.
@ije, I concur with your outlook on things too. It will be at least 5 years before we get back to looking anything like 2012. I've been investing exclusively in the energy sector for over 25 years. We are nowhere out of the woods yet.
I think it's going to be 5 years before things get better.
To the jackoff who said the OP was gullible, save your insults for your life partner. I agree that this article could be right. We all know 14 was a downturn, 15 we were in denial, 16 we kept hearing in February or June it will go back. Oh yeah? How many projects are running right now? How many drill strings you got making hole?
I think we all should get used to the fact things are here to stay for a long time.
Yes, I believe everything that I read on the internet and post it for others to see how gullible I am.