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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (7125)5/26/2004 2:38:26 PM
From: Knighty Tin  Read Replies (5) of 116555
 
mish, our analysts say the same thing. Lots of oil. What me worry? I think both sides are partially right. For a price, there's plenty of oil. For example, the oil sands in Canada have more potential barrels than Saudi Arabia and they are barely being tapped. But it involves an expensive extraction and refining process. A combination of higher oil prices and better technology over time can make this viable, though it cannot meet near term needs. There are many similar examples. My guess is that at $5 a gallon, we will be awash with oil.
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