As the CEO of an independent oil and gas services company, I often get asked my opinion on the falling price of oil. So I thought I’d go “on the record” here and share a bit of my stance. In a nutshell, my message would be: Don’t Panic.
Yes, we’re experiencing turbulence in the energy market due to the drop in oil prices. And yes, this has certainly placed challenges on the oil and gas industry. Throughout the sector, companies are adjusting outlooks to react to external influences that remain outside our control, and some reactions are causing concern. As I mentioned in a recent CNN Money interview, a main factor to this concern is a “battle royale” between OPEC and US shale producers. Watch the entire piece here: