One might think that a $30/bbl oil would have the oil and gas industry jumping to its feet and cheering, rushing to spend the windfall bucks on more production efforts to boost bookable reserves. After all, oil was at $12 per barrel about this time last year. And one might also think that the service companies that cater to the needs of exploration and production companies were in for a near-term bonanza based on the dramatic uptick of commodity prices.
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