Oil companies are rapidly becoming oil brokers. They don't make enough profit to double or triple production in the US. Offshore profits are very low. The government makes almost 20 times more off of it than the oil companies. It's going to be hard for the oil companies to expand production when they are currently losing ground.
So not only are they going to triple production but they are going to do it and sell oil for $15 per barrel?
Last edited by DavidPhillips : 06-05-2008 at 07:31 PM.