Could it be that the oil companies are driving the cost of oil down

[WCGreen]

so that the talk of "Green" cars is put on the back burtner...

[tavalon]

1. Possibly, but I think a more likely explanation is that a worldwide

recession is driving down the consumption of oil, leading to a temporary oil glut.

[ejpoeta]

2. the oil companies were mad the prices went down. remember how they said they were going to cut

production. just them saying that usually spikes the price of oil. but it didn't happen. i think the cost of oil going up right now would just make things worse for the oil companies. and i almost wish the price were up, because i fear that people just go back to being complacent and don't pay attention again until the price goes up high again. The price will go back up... when things start to turn around. at least the car companies are working towards different technologies. and i hope that we can get away from oil.

[polichick]

3. According to my oil industry friend, that's it.

[RUMMYisFROSTED]

5. ...and speculation.

[raebrek]

4. I doubt it. n/t

[CaliforniaPeggy]

6. I suspect they aren't...

But I'm sure they're happy that the green car issue is fading...

Slimy bastards, all of them.

[WindRiverMan]

7. NOPE!

I do some environmental work with the oil companies. The big drill rigs are currently being stacked up and put in storage. It is now too costly to drill directional wells. Rig counts are down 66% from last year. No drill = no money. Now personally, I call bullshit, they have made enough money the past three years to continue drilling and exploration, but they won't. One thing I have learned working with these clowns in that they have no foresight. They live month to month, profit chart to profit chart. Thus is the way of big oil.