I may live to regret bringing this up, but I recall about a year ago, maybe less, there was a discussion thread here that included speculation on the price of oil by this time of the year. I remember predicting it would be around $70, which it currently is. Can anyone find that thread and see how close we came to our predictions about oil's price?
Barring significant changes in the rules governing drilling for oil, the price of oil is largely set by how many basins are profitable to drill at a given price point. A return to 2008's $140/bbl price would stimulate a lot of frac'ing.
Interesting to note that the Uinta RR has been tentatively approved.
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