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Not like it used to be – Plummeting oil prices could have big effect in Montana

November 28, 2008 /

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In July, when the price of a barrel of oil was nearing an all-time high, Tom Richmond was a rare voice of caution in an otherwise exuberant oil industry.

Many observers were talking about new world conditions, unprecedented booms and how the price of oil was unlikely ever again to drop below $80 a barrel. Richmond, division administrator for the Montana Board of Oil & Gas Conservation, begged to differ.

“People tell you the fundamentals have changed, that the price can’t go any lower,” he told the Gazette, in a story published July 20. “Well, I’ve heard that before.”

By ED KEMMICK Billings Gazette

Full Story: http://missoulian.com/articles/2008/11/28/business/biz19.txt

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