Excellent Article........... Thank you ! What is particularly interesting is that the Templeton Group is using mid $40s oil for 2007... Also...in government planning Venezuela uses $29...... ................................................................................................ The other major point that the article notes which is a correct one is that small changes are actually big changes... Another major telling point is that the oil welfare states have no other significant forms of state revenue...and will not want less money.... The other major point...is that although the USA uses 25% of the worlds supplies.....the rest of the world that buys the remaining 75% of the oil supplies... lives in a $200 to $800 family economy...A $50 price is unusually high to the majority of the worlds people... .................................................................................................... And one of the most important drivers of the oil price bonanza is the Bush/Cheney fiasco squad...whose confrontational rhetoric and war polices are now being tamed down by the US public...which has been solely responsible for at least $25 of unnecessary and higher oil prices.... ....................................................................................................... Oil prices in 2007 will surprise most...particularly the US WS academic data eaters in that they often overlook small but meaningful variances...
I guess next time OIL approaches 70+ I will just sit back and not worry since many now think oil is headed back down to the 40's.
Any really bullish articles on NG out there? I'm seeing storage is at an all time high, which is a little troubling, but not a killer. Just like to see some good news on nat gas for a change...
Someone is holding a big long position in NG... I almost feel the damage in the making. At what price? I dare not to mention as it is going there and some more... Till then stay away... Enough said
Thanks for the reply. Kinda wanting to speculate on the average price per Mcf over the next seven years. (For a very high volume LP) I've seen the Jan contracts, and was hoping to see $8-9, not the mid 7's...