Musings: Three Cheers For The US Oil Industry! Hold The Predictions
The business scenarios flowing from the answers to our question reflect the two ends of a spectrum, with the likely outcome falling somewhere in between. Just where we land along this spectrum will dictate the level of future petroleum industry activity and thus that of the service companies who perform the work. The more important issue will be how the shale outlook answer impacts the overall U.S. energy balance and global energy and political dynamics. While we remain optimistic for the petroleum industry’s outlook, we are not ready to sign on to energy independence or the return of the U.S. to the number one oil producer in the world. We welcome being proven wrong, however.
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Managing Director, PPHB LP
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