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Strategies & Market Trends : Effective Collaboration - Team Research for Better Returns:

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To: bruwin who wrote (3870)	11/13/2014 3:56:13 PM
From: Jacob Snyder	Read Replies (1) of 8255

re oil price: all the political events are just "noise in the signal." The price of oil will be controlled by supply and demand. Marginal demand is controlled by the developing world, mainly China. Until the next global recession happens, global demand for oil will trend modestly upward (with short-term fluctuations to confuse us all). Marginal supply will be controlled by increasing North American production, which in turn is controlled by evolving technology (fraccing, in situ tar sands, deepwater). Below $80, those new extraction technologies become rapidly uneconomic. Therefore: the price of oil cannot remain below $80 for long, because all increases in supply cost at least that much to develop. disclosure: long SU at $34, will buy more at $31 and on down, as low as it goes.

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