Energy Quote of the Day: Oil Industry ‘Fighting for Same Floatable Toys’
Breaking Energy 2014-03-06
Summary:
One emerging theme at CERA Week, currently underway in Houston, is the need for major oil companies to reduce capital expenditure amid range-bound oil prices and escalating costs. Chevron CEO John Watson reportedly said “One hundred dollars per barrel is becoming the new $20, in our business.” So ostensibly oil prices need to increase by