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[QUOTE]Originally posted by IWISHIHAD: [QB] Originally Posted By Happy Valley: I don't entirely disagree with this but when dealing with a commodity that effects entire economies on a global leve, it needs to be done responsibly. I think all of these smaller operators are a large contributor to the collapse in oil and gas prices. At $100 oil, even the chucklehead operators could pay the bills but now it takes 2 or 3 times the oil production for these same operators to service the same debt. These inefficient operators that are in over their head have no choice but to keep the production wide open, regardless of price. Banks are just as much to blame here, they gave cheap money to every energy company with a good sales pitch. In the end, they will once again be the ones holding the bag. The lean and efficient companies will make it through this mess and the operators who had no business being in these large oil fields in the first place will have their acreage and production picked apart in bankrupctcy. ------------------------------------------------- The problem is that the big boys got us until there sure we are really headed towards using other energy sources to power our cars. They do there best to make sure we don't. It's easy to do, but they have to much money to spend paying off everyone that controls this process. Natural gas is an easy conversion and there is so much available, but again the big boys have the majority control. I am not even going to waste the time talking about other energy sources. Bottom line is the big oil companies aren't worried about loans from banks, they probably own most in a round about way, directly, or could if they wanted to. Look at their profits over the years, and you can bet they have written off everything and then some, when we see their tax figures. - [/QB][/QUOTE]
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