Page 6: of Offshore Engineer Magazine (Jan/Feb 2016)

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Undercurrents

PUBLISHING & MARKETING

OPINION

Chairman

Ringing in

Shaun Wymes [email protected]

President/Publisher

Brion Palmer the New Year [email protected]

Associate Publisher

Neil Levett or the past 12 months, OE has done ing us in the end, and waiting for prices [email protected]

F much re? ecting on the past, as we to return may not be the best solution. th

EDITORIAL lived through our 40 year as a publica- Art Berman, an industry watcher, has st

Managing Editor tion. But, as we enter our 41 year, it a view on oil prices that likely many

Audrey Leon is time to look ahead. And there is no people do not hold: he feels prices need [email protected] better to time and place to do that than to be lower. “Prices have to fall further,”

European Editor

Elaine Maslin with our January Global Offshore Mar- he told a breakfast crowd in Houston [email protected] ket Forecast issue. this December. “We’re below US$40/

Web Editor

OE reached out to several ? rms to bbl now, the whole key here is to change

Melissa Sustaita get both the good news and the bad investor/producer behavior.” [email protected]

Contributors news about the year ahead. And there’s Berman said the current downturn is

Meg Chesshyre, Greg Hale, no way to put the news delicately; we part of a larger market issue. “The price

Abdelghani Henni , Heather Saucier all know we’re in for a tough year. The collapse is nothing more than a devalu-

Editorial Assistant

Jerry Lee industry is battling oversupply, and ation of a market that was too high,” he

Editorial Intern bloated, high-cost projects that were said. “High price and low demand leads

Elia Barnett dif? cult before the low oil prices made to oversupply. And Berman blamed

ART AND PRODUCTION most projects uneconomical. oversupply on “cheap money,” caused

Bonnie James

But, with every bleak forecast, there by interest rates that have been kept

Verzell James are those in the industry, those who arti? cially low, encouraging investors to

CONFERENCES & EVENTS have been through it all before, who look for a better yield in the oil and gas

Events Coordinator

Jennifer Granda hold the highest hopes for the better- sector. [email protected] ment of our industry. And those people, “Energy is what links the entire

Exhibition/Sponsorship Sales like Rob Fast, Vice President, Offshore global economy,” Berman said. “Much

Gisset Capriles [email protected] - Americas and West Africa for Hess lower oil prices, are the only reason- able path to return the world economy

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Quad Graphics, West Allis, Wisconsin, USA “Energy is what links the to high growth and higher demand and have a balanced oil market.”

EDITORIAL ADVISORS entire global economy,”

Houston O