From WS Journal....

[HurricaneJesus]

-Low oil prices could deter investments and crimp future supply growth, industry executives warned.

The very next blurb?

-BP poested an 83% rise in profit, aided by higher energy prices, and said it has more than $6 billion in cash.

So we're supposed to believe the 'low oil prices', which are around the same as last year, are putting the screws to oil companies? This after recently learning of ExxonMobil's and BP's record-breaking profits over the past year or so? OK, just so we're clear.:D Please send them my condolances.

[Lawn Jockey]

WOW!

I'm into oil and gas.

Oil on my hair.......and gas on my stomach.

:munch

[myanocsk]

i believe that the age of news reporting has hit an all time low. if any editor bothered to look at what's going out over the wire and checked half the facts.............argh, this is my new pet peeve.

i hardly watch the news and newspapers are for stuffing shipping boxes as far as i am concerned.

bad/good.........bad/good.........make up yer mind media folks. makes you want to just stay in bed.......[end of rant]:crazyguy

[greggorypeccary]

But those profits were made over the past year when prices were very high. It's only the last few weeks that they've dropped back down. If they stay there I doubt we'll be seeing record profits in the coming quarters.

[Blue Strat]

-Low oil prices could deter investments and crimp future supply growth, industry executives warned.

The very next blurb?

-BP poested an 83% rise in profit, aided by higher energy prices, and said it has more than $6 billion in cash.

So we're supposed to believe the 'low oil prices', which are around the same as last year, are putting the screws to oil companies? This after recently learning of ExxonMobil's and BP's record-breaking profits over the past year or so? OK, just so we're clear.:D Please send them my condolances.

The same people who wanted to "drill baby drill"!

I wasn't buying that anyway. Why would a capitalist want to work harder to increase supply knowing that it would rebalance the supply/demand equation and lower prices?

[Jagsound]

The same people who wanted to "drill baby drill"!

I wasn't buying that anyway. Why would a capitalist want to work harder to increase supply knowing that it would rebalance the supply/demand equation and lower prices?

Slightly unfair - I think you mean a capitalist with some monopoly power? ;) Also, they wouldn't have to work harder, just live with lower profit for a while, and er, that's not possible because the market wont accept it. If profits fall during a contracting economy I really don't know what to say... :D

[Bones]

i believe that the age of news reporting has hit an all time low. if any editor bothered to look at what's going out over the wire and checked half the facts.............argh, this is my new pet peeve.

i hardly watch the news and newspapers are for stuffing shipping boxes as far as i am concerned.

bad/good.........bad/good.........make up yer mind media folks. makes you want to just stay in bed.......[end of rant]:crazyguy
Our regional daily paper Newsday, reads like it was written and edited by second graders. Add to that the severe bias and not so subtle agendas and you have more of a printed blog than an actual record of events.