The Globe and Mail reports in its Tuesday edition that Western oil and gas companies are benefiting from the Iran war, which is boosting energy prices. A New York Times dispatch to The Globe reports that if the war ends, prices could fall. If oil and gas prices return to levels seen at the end of last year, many companies would again have to worry about cutting budgets and laying off workers. Conversely, if the Iran war escalates, prices are likely to keep rising. Currently, West Texas oil companies are earning significantly more per barrel sold. Beryl Oil and Gas president Mike Party has not altered his drilling plans because he is unsure where prices will be in several months, which is how long it takes for new wells to start producing. The outlook is even more uncertain for oil giants like Exxon Mobil and BP, which have extensive operations in the Middle East, not to mention state oil companies such as Saudi Aramco and Qatar Energy, whose facilities have been targeted. Missile strikes last week damaged 17 per cent of Qatar Energy's natural gas export capacity, costing around $20-billion (U.S.) in lost revenue annually until repairs are completed, the company said. Exxon jointly owns the compromised infrastructure.