Originally Posted by
Geoff Parkstone
I think they know where stuff is, Swale, but deepwater drilling has ceased whilst oil prices have been relatively low as its uneconomic. With prices going up, deepwater drilling becomes more economic and so oil companies will start drilling. Of course OPEC will see this and bring more oil into production themselves, quicker than deepwater development, and so push the price back down. This is ultimately what is wanted and the threat to restart deepwater activities will often achieve - in theory - all down to market cartels like OPEC controlling the price IM afraid!