Originally Posted by
Nantonaku
If your favorite president keeps cutting regulations in his new term and letting the economy roar (as well as drilling for oil) then we could be at 1,500 at the end of the year. The wealth effect is real. There are thousands of newly minted millionaires this month. Elections have consequences.
A President doesn't change geology. The shale production in the Permian Basin Permian Basin is plateau'n at best, declining at worst. Deepwater drilling in the Gulf of Mexico is the best bet for drill baby drill but high spec Rigs are in extremely short supply and it takes 5 years and $1B to build a new one.