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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (31070)	5/29/2008 11:39:30 AM
From: Jurgis Bekepuris	Read Replies (1) of 78748

I totally agree that the only way for oil demand (and price) to drop is for the oil producing countries to stop their subsidies. Most likely not going to happen though. I am firmly in Peak Oil camp and I don't think oil price is high due to speculation. I am not sure about other commodities, so I mostly avoid them. Even with oil, I have sold some of my positions that I believe to be fairly valued to overvalued. I still remain strongly weighed towards oil/gas though. IMHO, any oil price pullback to <$100 should be used to accumulate. Eventually, we should survive peak oil and diminish its need. I don't see that happening in 5 years. 10-15 years - maybe, 20-25 years - pretty certain (that's why Buffett or Munger said something like that oil will not be very important in 25 years). But I think there is a lot of oil money still on the table until then.

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