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320 comments on DrumBeat: February 22, 2008
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320 comments on DrumBeat: February 22, 2008
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I hope so. If They don't start work on these projects soon, they'll likely never get done because am economic collapse or worse. It takes considerable capital and engineer to tap these resources. If the dollar tanks, we won't be able to afford to import steel, critical equipment and skilled workers necessary to for these projects. And there will be no energy available either.
Considering whats happening with credit, its probably already too late. Credit is drying up faster than acetone on a hot sunny day. Even Multinational Oil companies need access to credit to start up large scale offshore drilling projects.
techguy- The oil companies will be the one's with the money to start these projects. when the dollar tanks the prices of oil will go up as it has been. the oil companies will be rich as well an oil company.
Wait a few years after they deplete their reserves and the cash flow disapears.