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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 393.24

+1.1%

Dec 11 4:00 PM EST

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To: Elroy Jetson who wrote (1440)	10/22/2005 5:34:12 PM
From: Seeker of Truth	Read Replies (2) of 218445

Hello Elroy Jetson, Isn't it a fact that extraction of oil from the ground in the US every year gets more expensive than the same at various places outside of the US? Now the US imports 51% of its oil. Will the process somehow magically stop? The same thing is true of other countries. North sea oil is getting more and more expensive because less and less of it can be extracted with contemporary processes. Ditto for much of the rest of the world. If there were so much oil left in the ground, how is it that the price is now $57 a barrel for Brent crude? Naturally there will ALWAYS be some oil left in the ground but it looks to me that peak oil is a reality. Anybody who has worked in the oil business for a long time will have suffered through amazing drops in prices. This looks like the same old thing. But to me, it looks different. I wouldn't keep oil stocks selling for 50 times earnings but I think oil/gas/coal/Uranium are good things to own. I note that Tobago Jack has adroitly jumped out of most of his energy holdings but he expects to get back in later. I don't follow him like a god, ==there is no god--, but I highly value his judgement and he is going to get far richer than the rest of us. I respect your report about Chevron. I worked there for a couple of years in Richmond and I admire the company. However their $27.50 requirement has not resulted in an increase in their production so they will have to lift it sooner or later. There's no conspiracy except from nature's side. Nature's law is what's gone is gone. We can't get energy from CO2. We may however get cheaper energy from ethanol or from biomass etc. That's the next new and great thing, so I imagine.

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