A fellow blogger from Calafia Beach Pundit, Stott Grannis put this chart our recently.
Baker Hughes US Rig Count
This is really amazing.
T Boone Pickens recently stated that the Rig count would fall by 50% and we would be at $100/ barrel oil by the end of 2015.
In my opinion, both of Boones statements are a bit aggressive, but there is no denying capitalism is at work.
Have a great Day!
John A. Kvale CFA, CFP