“It's very interesting that after some of the best profits in decades there is no type of significant expansion. In the early '90s we would have been expanding at the rate of 5%.”
“Guys are comfortable with what they're producing. They're going to expand slowly. It does seem to be a conscious effort by the production side not to get too carried away.”
“We've restructured the industry. We think producers are wisely restraining expansion because they know well the adverse impact a rapid expansion could have on both prices and profits.”
