Death comes to us all. Life's but a walking shadow | Does anyone know where weekly or monthly world crude oil production (at the wellhead) is reported? It seems to me that given that one of our major products is motor fuel ( 5 billion bushel of corn as ethanol) we should expect to bear some consequences from the decline in our competitor's prices. The question is: how much and for how long? We already know that crude oil is being stockpiled in every conceivable nook and cranny (rented oil tankers, probably even rail tank cars) in an attempt to hold oil off the market. But the more important question is when will actual production start to decline?
When I start hearing of actual oil production declines that's when I'll know the bottom is in.
Is the situation of oil companies similar to that of grain farmers in the midwest where high land rents force them to maintain high grain production simply to service the land rent? |
Does anyone know where ......
