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Originally Posted by tanner12oz
but if supply exceeds the growth in demand then you have falling prices. Rigs are more efficient now then they have ever been and we get more from each hole, need less holes to satisfy demand. The rig count needs to drop because we can simply do more with less.
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That's the classical equation, but anyone who has paid any atten tion to oil the last couple years will tell you that market has not behaved theoretically.
