So the price per barrel has gone below $70. So? What's the hullabaloo about? Yes, the financial slow-down is a matter of concern, but neither is a $60 crude bad for our oil industry nor for the economy in general. So why the cribbing? Who told people to bet on $140 per barrel? Were they completely out of their minds?
When I entered the industry the crude was going at $10...... and we were STILL planning EOR projects, ready to initiate them as soon as the price went beyond $16!!
Greediness has been the downfall of many a industry.... even our industry had learnt its lesson a couplo-three decades back...... or did we?
If we can concentrate on the REAL issues, such as human resources and the lack of competition in many oil-field services, we could do a whole lot better.
