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>> Their B/E is a lot lower and they still have lots of it.
@ET:
Yep, and I hope we suck them dry while we still have huge reserves. Â They must reform, educate and diversify if they expect to have any relevance in the future.
@Odin:
I somewhat agree. Long term controlled production will keep OPEC from jamming us on price. The hard part is keeping a hat on domestic drillers to avoid endlessly repeating the boom/bust cycle. Production was already ramping up before this latest news.
While the loss of jobs was tough, a lot of those were new in in the last few years and mostly unsustainable. 4951