"any impact on average wellhead prices is expected to be insignificant."

That is incredibly short-sighted thinking. It completely misses the reality that the more dear oil becomes, the more important each additional marginal barrel of oil becomes.

This is like saying, "we don't have enough food now, so we won't try to grow anymore becasue it won't completely solve the problem of hunger." Or, "If we can't save everybody, then we shouldn't save anybody."

Its insane, really.