Spending boost to continue in 2005

Here is an interesting survey of the E&P expenditures for the next year.

At the bottom of the article there was what I thought was a fairly significant comment:

“For the first time ever, 100% of the respondents are optimistic about the next three-year outlook. Over the past 10 years, there have been periods when certain classes of respondents have had 100% response, but never all three classes at the same time. Certainly, the strong commodity price environment over the past two years is driving the level of optimism.”

World Oil Magazine