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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (34045)	8/2/2004 12:22:44 AM
From: Umunhum	Read Replies (3) \| Respond to of 206330

Big, Do you have a link for the bush eliminating the IRS? Simmons believes that the Saudi's have peaked: petroleumnews.com Exxon says that existing world wide oil fields are declining at about 5% per year and coupled with increasing demand at 2% per year we need to add about 5.6 million (80 mbpd * 7%) barrels a day of new capacity every year (graph on page 6) - this is not going to happen at sub $40 oil if at all. peakoil.net And to top it off everyone here seems to think oil prices are going to decline. I don't get it. Peak oil is here people. Demand is going to exceed supply in Q4 of this year and oil prices are probably going into the $50's. In the event that I'm wrong and we get a sell off, I intend to buy a lot more Dec 2008 and 2009 oil contracts sub $30 if I can get them. But I doubt I'll get the chance. Colin Campbell came out with his August newsletter: peakoil.net He thinks oil is going to peak next year. I think oil will be well above $80 by 2008 and have only about half of the oil future contracts that I ultimately want to own to ride the wave.