DCP reports explosion at one of their pipeline facilities in east Texas.
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Wednesday, February 11
Energy Quote of the Day - 02-11-2009
by
Energy Issues
on Wed 11 Feb 2009 11:57 AM CST
"Ultimately, low prices sow the seeds of their own destruction." – quote from a recent report on oil demand issued by the International Energy Agency.
Crude Oil Rises on Speculation OPEC Cuts Are Curbing Oversupply
by
Energy Issues
on Wed 11 Feb 2009 09:48 AM CST
My wife Anne - a very wise oil and gas accountant and attorney - used to say that when you shut in a well, the oil that would have been produced that day will never be produced because of the loss of the “time value” of money. OPEC has shut in lots of wells to effect its 4.5 million barrel per day production cut and we can only speculate on the long-term result. http://www.bloomberg.com/apps/news?pid=20602099&sid=a6mfn3rpzOHQ&refer=energy |
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