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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: JimisJim who wrote (123041)8/6/2009 3:06:10 AM
From: upanddown6 Recommendations  Read Replies (1) of 206325
 
"FWIW, quick note... big discussion at chow today with guys who literally have been to every corner of the world's oilpatch in recent weeks/months about how the story nobody is reporting is that field decline rates on ave. around the world are about DOUBLE what's been reported even by the usually reliable inside industry outlets...

Jim, thank you for an excellent post.

This kind of information from people in the field is infinitely more valuable to me than the latest guesses, hunches, gut feelings and fears from people who have never been in the energy industry.

I read the recent discussion and think....
Why do we constantly obsess about oil demand for 5% of the world's population?
Why do we constantly obsess about oil supply for 5% of the world's population?

I don't doubt for a moment that oil demand is topping out in the US just as it is topping out in most of the advanced countries in the world.

The real question to me is what is the demand going to be for the other 4-5 billion people on the globe?

What about the billions of Asians who aspire to the middle-class comforts of cars and refrigerators and heated homes?

Doesn't their demand matter?

I have always felt that a US-centric, tunnel vision view of oil supply/demand can be very dangerous to your financial health.

This article from Singapore addresses those changes.
straitstimes.com

Jim , thanks for your contributions here. That way to access Citi research by hovering over the report to get the address has been very useful.

Thanks,
John
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