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Drlg World Blog | Oil and Gas Professionals discussing Drilling Completion Production
John Hofmeister attracted national attention in 2010 when he predicted that average U.S. gasoline prices would soar to $5 a gallon in 2012, thanks to rising crude oil prices. His forecast fell short, as the cost of filling up flirted with $4 in 2012, but never went higher.
Australia’s BHP Billiton will reduce its US onshore rig presence from 26 to 16 by July in response to lower oil prices.