Personnel key to moving beyond price cycles to structural prosperity

Click here to enlarge imageCan it last?Can prices stay above $30/bbl for oil and $5/Mcf for natural gas? Can prosperity endure for an industry still smarting from the energy market's most recent wreck?Will this be the trend that continues? Has something changed about the market that will keep prices of fluid hydrocarbons from returning to the ruinous levels they plumbed in 1998-99?History says no.History says present conditions never last forever. History says investments dependent on unwavering extension of current trends always come to grief.To be guided by history in 2001, therefore, is to be cautious, to invest with restraint, to assume the worst case: another market crash that ...

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