Insight and inspiration in turbulent times.
EIA, IEA, and BP forecasts miss the issue of low prices, and what they do to the possibility of future oil production. We get lulled into thinking that current prices are almost high enough, but they really are not. Companies really need to have enough funds on a cash flow basis, and on this basis they seem to need about $130 per barrel now, and more later. The likelihood of getting prices up to this high level seems very low.
Why you should never take advice from people who have no "skin in the game."
It’s easy to get bad advice from successful people. Here’s why: Successful people assume that the same circumstances that prevailed while they were achieving their success will generally prevail while you are pursuing yours.
It is a slick piece of public relations to convince people to disregard what is right in front of them and believe the opposite. And yet, that is what the oil industry has achieved with an oh-so obviously coordinated campaign.
