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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (37322)	7/30/2005 11:26:19 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

I think we see 40, possibly 35-37. 1-2 years from now. Mish

To: Wyätt Gwyön who wrote (37322)	8/1/2005 11:22:09 AM
From: Umunhum	Respond to of 110194

take the view there is a huge speculative premium in oil at these levels -- maybe it is $15 -- so oil will come back down again by quite a lot, potentially. ah, the "huge speculative premium" bogeyman. Unbelievable, absolutely unbelievable. When are these people going to catch a clue? Saudi admitted that their existing production is depleting at 800,000 bpd per year so they need to increase production by that amount just to stay even, Iran just admitted their existing production in depleting at 400,000 bpd per year, Mexico says the Cantarell is rolling over, Norway and England's production in the North Sea is declining a lot faster than they thought it would. China is over in Venezuela and Canada trying to secure supply. Japan and China are in competition wooing Russia for the right to buy Russia's oil. We’re not going to let China buy energy from us with their dollars. I wonder what China's response is going to be when they figure out that we're going to decide what they can buy with their dollar hoard? When are these people going to connect the dots? I’m thinking CL is over $70 by the end of the year, $80 before ’06 ends and well over $100 by ’08. I have to thank you for bringing NXY to my attention. I am up a bundle on that one :o)