Don't forget oil companies have bean counters. If a company can't project black ink in 2015 the smaller oil companies are going to curtail drilling plans and production plans. It is economics at work. They will lose money below a certain per barrel price point. Economics governs a small company more than a big one. The big boys will likely plow right through this as they have millions in past profits and cash reserves to draw from. The new small company's not so much. In the price territory we are in now you will see some small players drop out maybe temporarily but drop out enough to reduce US oil supply on the market. If you are a small company you can't operate at a loss for very long. And we have several new small players in the fracking business.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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