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industry trends

Beginning of the End? Oil Companies Cut Back on Spending

February 26, 2014 by Gail Tverberg
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Oil Company Spending

Steve Kopits recently gave a presentation explaining our current predicament: the cost of oil extraction has been rising rapidly (10.9% per year) but oil prices have been flat. Major oil companies are finding their profits squeezed, and have recently announced plans to sell off part of their assets.[read more]