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Low oil prices hurting US shale operations : Comments
By Nicholas Cunningham, published 24/10/2014Baker Hughes CEO Martin Craighead predicted that US drilling companies could begin to seriously start removing rigs from operation if prices drop to around $75 per barrel.
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Therefore I think there will be general acknowledgement of world Peak Oil before 2020 with peak crude already having passed in 2006. It does not automatically follow that oil prices will be high rather they will be less affordable as economic acitivity struggles.