Rig count drops by 51
The number of rigs actively exploring for oil and natural gas in the United States dropped by 51 this week to 1,941. Of the rigs running nationwide, 1,498 were exploring for natural gas and 429 for oil, ...
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#1 Nov 17, 2008
Now this is bad news.
#2 Nov 18, 2008
Sometimes I think people can't see past the end of their noses.
Oil is a FINITE resource.
When it was above 100 bucks a barrel, everybody was bitching and we were investing money in alternative energy.
Now that it is low again, we are no longer investing in developing new sources of energy and it still is only a matter of time before we run out of oil.
Where is the sense in that ?
#3 Nov 18, 2008
I disagree. Oil production is down world-wide, and I like it. This says less resources are being put into furthering the oil mess we're in. Those resources are being reappropriated. This is a good thing.
#4 Feb 9, 2009
How long has it been sense we have seen number like this?
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