Politics weighed more than economics in the Standard Oil case.
Equipment designed to cap any potential oil spill in case of a blow-out was damaged, work had to instantly stop.
Bert Dohmen , editor of the Wellington Letter, also sees oil dropping further from current prices, but still advances a bullish case for oil services companies.
Iraq would not enjoy immunity from claims on its oil and revenues in the case of ecological accidents such as oil spills - a concession to France and Spain.
On the other hand you can make a case that oil demand might decline sharply.
In the case of oil-for-food, the Security Council tried to keep control through a sanctions committee of national diplomats.
"The market is having a hard time making a bullish case for oil, " said Hussein Allidina, head of commodity research at Morgan Stanley.
But EXXI may be a clear example of Wall Street throwing out the baby with the bathwater and in this case some oil-polluted bathwater.
"In the case of oil, speculative activity tends to ensure that a portion of the oil that is currently produced is put aside to guard against the possibility of disruptions or shortages in the future, " Bernanke wrote.
The CPI might go up 125% in one decade (as it did 1971-1981), the dollar could permanently lose 66% against major currencies (as it did against the yen in this period), and commodities could shoot up ten-to twenty-five fold (as was the case with oil and gold).
On Monday, we explored a worst-case hypothetical: oil prices spiking in the event of a Saudi supply disruption.
Another case accuses 12 oil and gas companies of dealing in pilfered fuel.
One of his Gitmo legal colleagues has said that Mr. Wilner was brought into the case by an oil industry client.
But environmental campaigners have warned that the harsh conditions in the Arctic could hamper any emergency response in the case of an oil spill.
BBC: Greenpeace activists board Russian Gazprom oil platform
In one particularly dismal case, a oil and gas license round last year saw only two of ten bids claimed, one of which came from Sonatrach itself.
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An eventual legal fight is possible, particularly as the actions will be seen as outright nationalisations rather than revisions of existing joint-venture contracts, as was the case with the oil companies.
In the case of Forest Oil Corp.
FORBES: Forest Oil Corp. (FST) Shares Enter Oversold Territory
In the case of the oil company, for instance, the cost of land corresponds to the premium (or down-payment) on a call option, and the extra investment needed to start production to its strike price (at which the option is exercised).
In the case of Murphy Oil Corp, looking at the history chart for MUR below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 2% annual yield.
Case in point: Oil majors like Exxon Mobil, Chevron, ConocoPhillips, BP 's BPAmerica and Shell Oil USA, a unit of Royal Dutch Shell.
Presumably the European Commission is building a parallel case to bring against oil indexed supplies from Algeria to Spain and Libyan gas to Italy?
FORBES: Getting Tough With Gazprom Could Be Suicide For Europe
Campbell says the robots are versatile, and the operators are "top guns" who, in the case of the BP oil disaster response, each has at least 12 years of piloting experience.
Global oil demand growth in a best case scenario will average around 1.27 million barrels a day, while under the worst case scenario of a global recession decline by around 750, 000 barrels daily.
FORBES: Barclays Expects Oil Prices To Remain Resilient In 2012
And in the case of the BP oil spill in the Gulf of Mexico, BlackRock engaged not only BP, but all the other public companies involved in the costly disaster such as Halliburton.
FORBES: BlackRock Is Not Shy About Voting Its 5% Or More Holdings in 2400 Companies
So why were ethanol interests arguing in this case to keep this particular oil industry subsidy?
FORBES: Corn Growers, Renewable Fuels Group Put Heads In Sand Over Ethanol Subsidy
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