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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: nrg_crisis who wrote (103416)	6/22/2008 2:52:33 AM
From: Salt'n'Peppa	Read Replies (1) of 206178

WG, I have to agree with nrg_crisis, that Pike fellow is a twit ... make that Dr. Twit! He, of all people, should know that crude prices are high not because of a debate over the number of barrels booked in reserve but because of the simple equation of supply vs. demand. We could have 48 trillion barrels of oil in the ground but if we can only produce, ship, refine and ship 87 million barrels per day, when we currently need 88 million barrels per day, then that is the fundamental problem. This is why I believe the Jeddah meeting will be most revealing. If several trillion dollars in infrastructure spending are announced, then the price of oil will come down ... in about 3 years! I personally do not see any way that oil will not pass $150/bbl in the next 30 days. Cheers, S&P

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