The next big issue is when do

companies stop pumping oil because its Losing money?

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Already started.

"As BP announced last week that it was to lay off hundreds of workers in its North Sea fields owing to the continued downturn in oil prices the usual suspects went into meltdown."

http://www.theguardian.com/commentisfree/2016/jan/16/scotland-oil-price-slump-snp-forecasts-critics

Peak oil. Right.

If oil stays at $30 per barrel, we have seen peak oil in our rear view mirrors.

If it goes up to $200 per barrel, they'll find all kinds of ways to make money getting more of it out of the ground.

We'll never run out of oil. But, aside from a few places, we've already depleted the cheap and easy oil. And there isn't enough cheap and easy oil to meet the world's demand for oil.

It'll be interesting to see what happens after we get past the immediate storage capacity crunch.

Excellent ! Now those arabs can turn in their " Lambos "

for camels !

Edited January 19, 201610 yr by fred Kubasa

The next big issue is when do

companies stop pumping oil because its Losing money?

Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app

Already started.

"As BP announced last week that it was to lay off hundreds of workers in its North Sea fields owing to the continued downturn in oil prices the usual suspects went into meltdown."

http://www.theguardian.com/commentisfree/2016/jan/16/scotland-oil-price-slump-snp-forecasts-critics

My mate who lives in the town reckons Brazilian giants petrobras have killedhis town called macea by giving something like 4000 direct employees plus the elbow. Imagine the reliant jobs rents incomes act that have uprooted, and apparently they have. Most are blaming the politicians but the reality is their commodity is bringing in 60 % less than it was and multis don't give a fuc bout anything but their share price and bottom line.

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