GM nostr!

So in the 60s oil was around 0.08oz gold/bbl, no it's 0.025. We have dramatically increased efficiency in drilling, production and obviously horizontal drilling technology and improved reservoir guidance has increased percentage recoverable. All of these things should decrease price but I can't help but wonder if part of the low oil price is reflecting the lack of demand increase one might expect from all this supposed GDP growth we have everywhere. Just a thought. And yeah, it is low. Think about all the debasement and inflation and ask yourself if a dollar price per barrel being the same as 2006 is actually high!