What if anything is different?
This article by Joe Bannister previously appeared in Oil & Gas Financial Journal on 16 May 2016, click here to go the original article.
NO ONE with any interest in or knowledge of the oil and gas industry can deny that the present market conditions are anything other than challenging. However, oil price volatility and the problems it creates at the pumps, on the rigs, and in the markets is nothing new. Dependent upon one’s age and perspective, the present turmoil is merely another example of the sort of disruption and havoc played on corporate and personal budgets by the 1970 energy crisis and its aftermath. From the mid-1980s to September 2003, the inflation adjusted price of a barrel of crude oil was generally less than US$25 per barrel.  Continue reading