During most times, the oil industry may operate in a dog-eat-dog world. Now it’s also in an ant-and-grasshopper world.
You know the story of those two insects — they’re paired together in Aesop’s Fable of the same name.
The ant toils hard to save and scrimp for a rainy day, while the grasshopper flits around, enjoying the moment with no thought for tomorrow. Then winter comes and the ant has stores of food to last him for months; the grasshopper dies.
It’s hard to think, especially given the lavish times of several months back when Niagaras of oil revenues were pouring into corporate coffers, that any operator would ever be out shivering in the cold, harsh winter of sub-$60/barrel oil prices, but that reality is now here. And those who prepared for it in better times, are holding their heads up.