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Politics : President Barack Obama
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To: Bread Upon The Water who wrote (24344)6/19/2008 9:05:24 PM
From: koan  Read Replies (2) of 149317
 
I make most of my money trading Canadian resource stocks (30 years). Right now I have proably half of my porfolio in oil, gas and Sask junior coal stocks (new sask coal rush via GXS's discovery). Two things:

1) Getting Obama and the dems in office could literally mean the survival of the world. Considering my kids that takes priority over aything. And to be honest, I do not care whether they dril or not. Liberals have a tendency to go a bit overboard at times on this mining stuff-lol.

I can say that because, as mentioned, I am so far left I am a Noam chompsky type of guy-lol.

2) Drilling, or not drilling off our shores will have no impact on oil prices. 10 years before any will be flowing. The demand for energy from developing country's is rising parabolicly and the decline is just the otherside of the bell curve-steeply down.

Russia just annouced the first year of production declines, Mexico prodcution is really falling fast. Saudi fields are filling with salt water and in the US our gas reserves are decling at 5% per year. Our oil production has been decling for decades.

High oil prices and food prices are here to stay as the world population rises at 77 million people a year and the developing world demands food and fuel; and the developed world is providing liquidty to the developing world for manufacturing, services and fuel; and in tryin to avoid a deflationary recession.
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