Article in today's Oz (hardcopy) stating that while oil stays between $40 - 50/barrel... capex on oil exploration, production, refining etc will be minimal. I expect oil will need to exceed $60 for quite a period before any significant capex is considered. Same applies to most commodities. Did a fairly thorough search on online version including journo Friedman's name but cannot find to C&P onto HC.
Ann: Preliminary Final Report-WOR.AX, page-41
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