Severin Borenstein
Severin Borenstein
build clear complete continued market plants
They continued to build and complete plants after it was clear the market was down.
capacity compared crude demand growth high oil price primarily production rapidly recent risen short today
The world oil price has risen rapidly and is very high today compared to the recent past, primarily because demand growth has been very rapid, and crude oil production capacity is constrained in the short run.
lucky oil tight
They are just the lucky beneficiaries of the tight world oil market.
anymore cars change cost decide drive driving gigantic mile people per rid subway suddenly work
It's not like this is a gigantic change in the cost per mile of driving your car. That's why you won't see many people get rid of their cars or suddenly decide they can't drive to work anymore or will take the subway or whatever.
money sell
They make their money the same way you make money when you sell your house.
barrel gone oil price worth
They make oil and they own oil, and the price of oil has gone up. Every barrel of oil they make is worth more.
coming grips oil supplies
This is not something that is going to go away quickly. Oil supplies are limited, and we're coming to grips with that.
action companies few oil raising
The oil companies may be raising it a few cents, but that's not where the action is.
barrel cautious certainly extra looked mean money pouring rat
It looked like money down a rat hole. I can certainly see why they'd be cautious now. Just because you're making an extra $35 a barrel doesn't mean you should be pouring that into exploration.