re: #63 Prof. Backpfeifengesicht, PhD

Can you explain?

Haven’t check world oil market prices lately, so I’m not sure if they are currently under 100/barrel. They may be. Price for any finite natural resource tends to go up with the passage of time. I expect that more than half of all revenue for oil will be for the last few percent to be pumped. If price is currently below $100, maybe it’s a promise to skip over the $100 price point when raised next time.

People who think declining oil production translates directly into declining profits are mistaken.