The following report appeared at the Online Investor Conference happening now. Just as a lead in, I do believe that we will get our back up the truck moment on oil and gas this year, however, the winners group has become narrower as even some of the survivors are going to spend years digging out from under a pile of debt. We'll want to stick with big companies in exploration and production, a small handful of service companies and a few pipeline companies, that's about it. Low cost producers, - Gulf Coop nations, Iran, Iraq, plus Russia - are winning the oil war against a lot of non-OPEC companies.
Here's the webcast for the presentation I did: https://youtu.be/SkgcnrSv3Dk
And here's the presentation: