Mexico offers sneak peek on peak oil

The International Fund owns three quite different oil-services businesses. Two of them are especially tethered to the deep and ultra deep water drilling and extraction industries. This whole sector is on the nose because the cost of exploring and producing in deep, inhospitable ocean environments is very high. Even with the oil price around US$100 a barrel, ultra deep water oil plays are, for the most part, not making or expected to make a lot of money. Multinationals like Shell and BP, and national oil companies like Statoil, have recently cut capital spending plans in response. We think that’s...

The International Fund owns three quite different oil-services businesses. Two of them are especially tethered to the deep and ultra deep water drilling and extraction industries.

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