Good morning Mermaids , CNBC this morning ; Tom Ward founder of CHEASPAEKE ENERGY " US shale needs $75 pb before they can start drilling shale . The banks have retreated and oil finance has closed down , however gas is another story , America needs more gas " Tom sees no increase in US oil production , and massive amounts of infrastructure needs to be built to tap the gas which is mostly along the gulf coast . If the Americans can't borrow on oil , soon the Gulf states will also be cut off from oil finance , and will effectively have cooked their own goose .......... Cheers
MRM Price at posting:
42.0¢ Sentiment: Hold Disclosure: Held
