Thursday, April 10, 2008

Federal Lease Sales Based on $30.00 Per Barrel Oil

Imagine that you are a seller of ice cream cones during a time of high demand (summer), but price them at levels that one might encounter in the dead of winter. Imagine further that the winter in question is, say, 5 years earlier. That would likely be a formula for minimizing profits. That is not unlike what is currently happening to Arctic drilling lease sales.

See the rest here. (Sorry for the link.)

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