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Yeah sort of. Shutting down or old owners looking to sell their business.@C Pav was telling me quite a few business looks like they are shutting down back there.
President Barack Obama will propose a $10-per-barrel charge on oil to fund clean transportation projects as part of his final budget request next week, the White House said Thursday.
Supply was curtailed when the oil was still in the ground!"You need one of two things: Either demand needs to rise substantially to suck up the excess supply, or supply needs to be curtailed."
SourceOil and gas companies have cut so much spending amid the biggest price crash in a generation that there are only 502 drilling rigs still active in the country, according to Baker Hughes Inc. In the next few weeks, that could fall below 488, the lowest level in records dating back to 1948.