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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: Tommaso	10/19/2007 10:28:34 AM
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communities.canada.com First up, the Canadian dollar. Mr. Buffett is positive on the loonie and bets it will be even higher five years from now. Meanwhile, he has a negative outlook on the U.S. dollar. Mr. Buffett also believes that Canada’s oil sands represent America’s hope for the future and they will be more valuable going forward. However, high production costs are keeping him out of the sector right now. The Berkshire Hathaway Inc. chairman and CEO also said “oil will sell for more in the next ten years.” I wonder if Buffet is slipping. Or else the reporter misunderstood what he said. Production costs for the established tar sands producers are very low, still on the order of $25-$35 a barrel. That didn't look low when crude was at $12, but every incremental dollar rise in crude goes straight to the bottom line of SU and COS.UN. Someone on the Oil Sand thread mentioned that COS was "just getting back to its highs." That is true if you are Canadian, but in U. S. dollars it's way above previous highs. As I sometimes mention, I forgot that I am still banned from that thread and tried to post this there, but was blocked.

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