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To: thackney

I had a lease and was selling oil the last half of the 90’s.
The only reason the price of oil was as high as it was (now there’s a joke for you) the gatherers weren’t buying oil unless it met a very specific set of requirements.

In 1999 a lot of independent operators couldn’t sell their oil at any price.

Others were selling as low as $7.


38 posted on 05/31/2013 6:47:05 AM PDT by IMR 4350
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To: IMR 4350
Others were selling as low as $7.

Even less than that in some places. Hard to believe how some kept in business.

Look at Average price Dec 1998 - Jan 1999:

Alaska North Slope First Purchase Price
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=F005071__3&f=M

40 posted on 05/31/2013 6:58:40 AM PDT by thackney (life is fragile, handle with prayer)
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