As noted in today's earlier post, John McBush has been the beneficiary of a cash infusion from oil company executives who LOVE his mavericky position to let them drill wherever the hell they want offshore, and to expand their huge profits even more (exploration cost pass-throughs and tax write-offs) without producing an additional drop of oil for years.
But a little something called "supply and demand" has intruded on McBush's magical straight-talk world: gas prices are down below $4.00 per gallon, and we haven't drilled a single offshore well in the past month or so. Imagine that! Well, this may explain it for McEconomist.
No comments:
Post a Comment