Telegraph.UK:
Lehman warns that oil boom will deflate. And we’ll all go back to the way we were, ignoring the lessons learned. For a few more years.
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Lehman is wrong or lying. I’m putting my money on lying.
They have a million motives for releasing a report like this. Well, probably 20 or 30 billion reasons over the long run....
...to claim that the costs of drilling have peaked and are now coming down is an incredibly myopic claim - they’re looking at a tiny slice of a graph and saying “see, it’s started downward!”
How many times has the price of oil “eased” or “fell on news of”, yet when you look at a 20 year trendline, it clearly goes UP and never down?