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

To: Think4Yourself who wrote (19)	4/18/2005 8:47:18 AM
From: jim_p	Read Replies (1) \| Respond to of 89

John, I think a bigger concern in the short term is the increasing protests/boycotts of products and services from Japan. I tend to agree with the bulls that China will somehow hold it together till after the 08 Olympics, but if we continue to get a barrage of articles on how bad the banking systems is and more and more people start to expect a crash years down the road, can oil go to new highs??? I tend to think not. It's true that the oil demand worldwide increased during the Asian Flu, but it did decline in Asia during that time period and Asia demand is the big concern today. Jim

To: Think4Yourself who wrote (19)	4/18/2005 8:51:17 AM
From: CommanderCricket	Respond to of 89

JQP, My understanding is the large onshore basins have been picked over and there isn't going to be many more large discoveries. The frontiers are mainly deep water. There's a good reason why the chinese oil companies are scouting the globe looking for reserves. Anyway, the open is looking better for us longs. Michael

To: Think4Yourself who wrote (19)	4/19/2005 6:17:29 AM
From: Raymond Duray	Respond to of 89

Re: What about China? The country is massive. As the country opens up isn't it likely that massive oilfields will be found there, China went from net exporter of petroleum to importer a couple years ago. About the same time, a massive new fleet of automobiles began flooding the country. From here on out, China will be competing with the U.S. (and Europe) for international oil resources. Here's some background on China's supply/demand balance: eia.doe.gov As another poster stated, the land-based Chinese oil industry is mature. The game has moved off-shore. The various skirmishes on the water such as regards the Diaoyu Islands - known by the Japanese as Senkaku - are based almost exclusively on oil & gas prospects under the seas. This is what the recent anti-Japanese "riots" in China are ultimately about. Here's an article that mentions several of the currently disputed island groups that China claims. melbourne.indymedia.org It's interesting that these oil disputes are almost never mentioned in the U.S. mainstream media when reports come in China's various altercations with the Japanese, Taiwanese, etc. According to our corporate media whores, just as with Iraq, territorial aggression couldn't possibly have anything to do with oil. ;')