Originally Posted by Donger
I wrote that it will be fun (for me anyway) to watch because of a few things:
1) The recession. It should place a damper on the demand increase typically seen in the Spring.
2) If demand does jump, how high will crude climb? I would guess to around $50.00 or $60.00, which is where it should have been last year.
3) What is the trigger point for the oil companies to begin serious E&P again? If crude doesn't hit that magic number and stay there, they won't. If demand goes back up to high levels and they aren't looking for new crude supplies, well...
Thanks. This is what I was wondering about.
I'm interested in point three, too.