Quote:
Originally Posted by Flames in 07
Even at this low, 5yrs out crude is 75 bucks. This $40 level is a blip, and even if it isn't, many contracts that today are deemed economic will become economic when costs structures reset themselves for a new environment.
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Ahh, but aren't you implying here that there needs to be heavy downward pressure on wages? Can you imagine wage levels gradually rolling back to, say, 2001 levels?