Quote:
Originally Posted by redpoint5
The more expensive oil extraction technologies are a response to high prices, which are influenced by cartels. It's a pretty simple matter to sink companies that have high operating expenses by flooding the market with cheap oil for some period of time. It's a back and forth game where oil gets expensive, domestic production increases, it gets cheap, domestic production decreases, rinse and repeat.
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OPEC announced yesterday,that they'll limit production for the next nine months,to help prop-up the price of oil,which is the benchmark upon which all other energy prices are based.
On the flip-side of bankruptcies,it's a great time to purchase those who've fallen,for pennies on the dollar.