Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: regli who wrote (54731)	8/12/2006 12:53:40 PM
From: RealMuLan	Read Replies (2) of 116555

I know you are a long-term oil bull<g>. Have you read this blog? and why do you think the CEO of BP is so bearish about oil price?<g> Oil Update....Is it Really Going A LOT Higher? Tuesday, August 08, 2006 sixthmanresearch.blogspot.com "Most interesting is this from Lord John Browne, CEO of British Petroleum, who in an interview with Germany’s Der Spiegel says it is very likely that oil prices will average around $40 in the medium-term, and could fall to $25 to $30 in the long run. He says that new oil finds in the Caspian Sea, Russia, and West Africa, and improved extraction from existing fields could increase supply while high energy costs depress demand. He allows that Middle Eastern difficulties could prevent prices from falling “very much in the near future.”

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