PearlwhiteS2k

Thanks for the input. BMO is a Canadian bank and it's been down to it's 52 week low and it's recovering now.

lOOkatme

[QUOTE=sleeper_s2k,Jul 18 2008, 06:42 AM] for all the oil pumpers out there, just another perspective...

http://seekingalpha.com/article/85671-the-...as-tech-housing

we've got enough reserves to run independently for X amount of years (i forgot the #, but like 50 or 100 or something).

PearlwhiteS2k

I'm happy with 90-105 bucks a barrel.

lOOkatme

unfortunately so is the market and a lot of drivers. And with flat supply....When the declines set in, it cannot possible stay at that price.

I think the economy could also weather $90-105/barrel oil....and when economies expand they use more energy.......its going to be volitile.....and the economy will not drastically expand until we get off the strangle hold of oil.

So....short term voltility amongst a long term trend moving up.

Just remember....year 2030, 15 million barrels of oil production from existing production......over the same time period demand will go to 120 MBPD.......we will need to find over 100MBPD of new production.

Let's say electric cars come online.....and halves it to 50 MBPD...which is not likely to reduce that much...but let's use it for arguments sake.

thats 35 million new barrels of oil per day.


Canadian tar sands can offer up

4 MBPD of new production by 2030

As of 2006, output of oil sands production had increased to 1.126 million barrels per day (179,000 m

PearlwhiteS2k

I think I'm going to start a small position in CHK for the fall/ winter month play.

dyu626

ditto. I started watchn it at 52 all the way up to 77 and now back to low 50s. But it may go down to 40s? I dont know.

Andrewca

I think it'll hit the mid 40's

kellyvu

There's a new etn out if you think the price of crude is going down:
http://stockcharts.com/h-sc/ui?s=dto

PearlwhiteS2k

Hmm maybe a rally near the end?

AZDavid

It is all going to depend on earnings.

American Express and Apple should move the market.