“We don't think oil prices are going to rebound sharply. I think the deal that Mobil's doing is suggesting just that. I think most companies are hunkering down and they expect that prices are going to remain low for the next possibly one to three years. In this event, you may start to see more mergers occur.”
“Knowing that the oil sands projects are capital-intensive, companies are signaling that oil prices will remain high and that supply and demand will remain tight.”
“When you start polling the world for where major oil companies can do business, you have West Africa, Russia, the Middle East and Latin America. What they all share is that they're becoming more and more difficult operating environments.”
