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Yes, Oil is Down, For Now...But Hold On!

By Tim Bradner

It’s easy to feel uneasy about our state’s petroleum industry right now. Let me cite some reasons:

  • Crude oil prices are still down. They are slowly rising but conventional wisdom is that $60 per barrel may be a kind of price ceiling, the threshold where those prolific shale oil drillers flip the switch and bring more supplies, sending prices down again.
  • The newspapers are full of articles about layoffs in the oil industry that are now rippling out through the economy, affecting even retail. 



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May lose value.

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