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Gold/Mining/Energy : Oil Sands and Related Stocks
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To: a.handbag. who wrote (20031)3/24/2008 10:50:40 AM
From: james flannigan  Read Replies (1) of 25575
 
I listen to the live conf-call.This company has big plans.They are going to take the Montana Ref and add 25,000 brls to the 10,000 to a total of 35,000.They also are planning being a 50,000 brl producer in the next 3 years.The market hates CLL but this company has very rapid expansion plans.

In three years we are going to need a lot more oil as China is adding 15,000 new cars on the road every day.Further Buffett was asked a year ago about the price of oil.He said that the market can get ahead of its self in pricing.The funny part today is he is now calling for oil demand to be 100 million brlspd during the next few years.He is no longer saying oil is too high.In fact he has warmed up to the tar sands,saying we have no direct investment in the oil sands,but our company rents most of the cranes that is building out the projects.

It just could be that Buffetts shift may be a heads up that he is looking for some kind of direct investment in the sands.He said he has a guy in Canada looking for elephant investments for Berkshire.If si Buffett could light a fire under the oil sand producers.Knowing how Buffett works,it is likely he could do an investment through hid Mid America unit.Berkshire is the largest

natural gas shipper to the US through his Kern River pipeline.He has $50 billion in cash,and oil sands require large amounts of capital. Sound like a fit for Berkshire.
JMO
James
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