The Age of Cheap Oil is over for good

[dan_s]

All five major oil companies announced declining production numbers despite increased expenditures in 2013 and the first quarter. At an oil conference last month, the Houston Chronicle reported Chevron CEO John Watson stated, “That new reality for our industry is that costs have caught up to revenues for many classes of projects. Essentially, for a company like mine and many others, $100 a barrel is becoming the new $20 in our business.”

Read This: http://www.alternet.org/economy/why-oil ... or-trouble

This is why our Sweet 16, with many years of low risk drilling inventory here in the USA, sure look good to me.