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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 389.05+0.4%Dec 10 4:00 PM EST
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To: Elroy Jetson who wrote (1336)10/22/2005 2:01:13 PM
From: Slagle  Read Replies (3) of 218385
 
Elroy Re: "high sulphur oil" While I disagree with you on a great number of things I have come to the conclusion that you really are "right as rain" and well informed about many other matters. And if you are right about "peak oil" then probably the biggest single support for the long term "bear case" for the world economy and especially the American economy and stock market is just BLOWN AWAY.

Do you really believe that there is a vast amount of oil, even heavy high sulphur oil, remaining? Enough for many decades, allowing for the world's increased consumption? I am not talking about the oil shale of even oil sands, but oil that can be removed in liquid form.

Of course you don't "really" know. I doubt Bush does. I KNOW that Jimmy Carter didn't know. Now maybe Lee Raymond and some of the Saudi princes "know".

I have a friend who has made a real fortune in the stock market in the last 25 years in addittion to his regular business (chain of floor covering outlets). He doesn't own a single oil stock. His advisor, the guy who is mostly responisble for his gains, is a politically well connected money manager, running money for many very well off Southerners. This advisor guy says that there is a WORLD of oil, even here in this country. He says there may be "millions" of capped wells.

If you are right, then SPY or QQQQ might be the best investment any one here could make for the long term. If you are wrong, we will have much worse problems than money.
Slagle
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