Quote:
Originally Posted by Donger
Money. Pretty much all of the crude that can be produced cheaply is gone. New wells are more expensive to drill as the crude is more difficult to extract. So, if crude drops below a certain point, the production costs will be higher than what they can sell it for. So, they'll stop.
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New technology gets cheaper as it goes along. Add in global warming and electric cars, oil companies are starting to worry we will move away from oil dependence. How do you explain OPEC pumping more oil with prices falling?