"Industry" LOVES a guaranteed bigger return without having to invest.
If an oil company is not replacing their reserves, they are going out of business. For every barrel sold, a new barrel must be added either through acquisitions of someone else's reserves, or spending the dollars on exploration and building new production facilities. And as the dollar weakens, they spend more dollars on those replacement barrels.
posted on 04/10/2012 7:34:25 AM PDT
(life is fragile, handle with prayer)
If an oil company is not replacing their reserves, they are going out of business.
You know as well as I do that there are plenty of reserves.
posted on 04/10/2012 8:22:48 AM PDT
(The RINOcrat Party is still in charge. There has never been a conservative American government.)
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