Can Santos survive oil at $30 barrel, page-3

Interesting article & although I agree with the view in general, even I'm not that bearish.
$30 I think is very possible and sub $40 even probable imo.
And what the article does touch on s this complete misunderstanding that the drop in rig count is going to translate into a very quick drop off in production.
Its not.

Pear, this question has been answered before & only recently.
Its quite simple.
As you suggest for a lot of commuters etc there is a minimum amount of miles they may have to travel etc.
But what is elastic is things like millions of Americans hitting the road in a gas guzzling RVs because gas is cheap or choosing not to because gas is expensive. Its only on the fringes of S&D but when the balance is reasonably tight it can make a difference when you multiply that around the world.
Or it could be people choosing to use public transport over a private vehicle.
Or turning the heat on more often (heating oil)
So its not totally inelastic, but yes to some degree it is.

Supply obviously certainly is as we are seeing, its growing!

Cheers Daytr