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Oil Prices: A power shift

Posted May 6, 2008

“If you were running an oil company, what would your number one priority be? Jacking up production, right? I mean, oil prices have just shot up from $50 to $120. And you know that whatever you produce, you’ll sell.” — Andrew Gordon

by Andrew Gordon

Baltimore — (TFN): If you were running an oil company, what would your number one priority be?

Jacking up production, right?

I mean, oil prices have just shot up from $50 to $120. And you know that whatever you produce, you’ll sell.

Can it get any simpler than that? Whatever it takes, push product out.

Now, we may not be dealing with a bunch of Einsteins at the head of these oil majors, but they’re not dopes either. They understand what’s going on.

So, why is it that when Exxon (XOM: NYSE), Royal Dutch Shell (RDS-A: NYSE), BP (BP: NYSE), and Conoco Phillips (COP: NYSE) all reported in the last two weeks, each and every one of them said the same thing? Read on to learn the answer and find out where to look for the best profits in the oil boom.

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Posted by Andrew Gordon · Filed Under Oil and Energy 

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