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Strategies & Market Trends : Natural Resource Stocks

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To: isopatch who started this subject	6/17/2004 3:52:31 PM
From: NOW	Read Replies (1) of 108660

""People who have tried to predict the future of oil prices in the past have generally speaking got it very seriously wrong," he says. "The one thing that is clear is that oil is getting harder to find, and as more obvious resources are discovered and exploited it's going to get progressively more difficult." High prices could help. "What will happen is that you'll find oilfields or pockets that were previously not regarded as economic, as the price goes up will become economic. If the price of crude stayed at $30 to $40 a barrel for a long time, and the world economy could sustain that, then a lot of oil would become economically extractable that hasn't been." The Lord Oxburgh Shell oil guardian.co.uk

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