There’s more to it than you’re saying. That sounds like the mouth pieces on CNN.
Just go check out the discussions at CERAweek conference early last month. In fact I watched live interviews on CNBC with Scott Sheffield (Pioneer) and David Hager (Devon) all said the same thing. Restoration of investor equity, an improved balance sheet and better supply management were the top priorities. You don't have to believe me. All you need to do is to read their SEC filings. Moreover, their stock prices didn't hit new highs because they were not now doing very well.
Do I like it? Of course not despite having made a little bit of money from trading small positions in Devon, ET and PAA. Nevertheless the days of cheap oil are over. And most importantly this country has been spilling blood and treasure in an effort to secure foreign oil ever since Kasserine Pass.
About the best this country can do even at max effort is pull out of the ground about 12 million barrels of oil a day . Trouble is we use 20 million a day. And of the top 10 nations in terms of remaining oil reserves the US ranks 9th on that list.
Now do you think it might be a good idea if we tried not to waste so much of it? Such as the fuel wasting nonsense of Ground and Express running all over the country as separate OPCO's or needlessly running around out there 7 days a week?