Marketmakers Energy Conference Presentation

Last Thursday I presented an outlook for the oilfield service industry at a conference in Houston.  Attached are the slides from the presentation.  I did not have a prepared text.

The presentation focused on how dramatically the oil market changed in the fall of 2008, which coincided with Hurricane Ike hitting the Gulf Coast while an economic and financial hurricane was hitting New York.  Those events changed the face of the financial industry and in turn the global energy business.

2009 will be another year of turmoil in the energy industry, but the seeds of a recovery have been sown and will lift the industry back to better times possibly starting by the end of this year, but certainly in 2010.