NYT article on PCO

[GRG55]

Re: PCO vs gold price, GAGFO is covert.

...It's a good point you made that the oil extraction methods are getting more costly. People sometimes say this is "technological advance". Well sort of. But drilling deep undersea is more a matter of nowhere else to go than "more technology".

...

I am not sure what you mean by this?

Petroleum is one of the most capital intensive industries on the planet. Capital is more mobile than ever. Capital ALWAYS has somewhere else it can go. Just ask the oil industry executives who lived through the 1981 to 1999 oil price drop era...

[Polish_Silver]

Re: PCO vs gold price, GAGFO is covert.

I am not sure what you mean by this?

Petroleum is one of the most capital intensive industries on the planet. Capital is more mobile than ever. Capital ALWAYS has somewhere else it can go. Just ask the oil industry executives who lived through the 1981 to 1999 oil price drop era...

I meant that there is "no where else to go looking for oil." I think the deep undersea drilling (and arctic exploration) is driven by the reality that the more accessible oil has already been sucked up.