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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (5301)	4/5/2006 5:07:46 AM
From: Seeker of Truth	Read Replies (2) \| Respond to of 218673

Production is at all time highs. Surely that's so. One of my favorite oil companies, of which I have a lot of shares, is Statoil. They don't even have hopes for expanding their present all time high production; they estimate a slight increase and then a decrease over the next few years. I forget the details. It's not because they are holding back; it's because they fail to expand their reserves. That's despite energetic exploration. Which major oil company is increasing their reserves? We are on a high plateau. A world wide recession could decrease the price of oil per your scenario but recessions don't last forever and don't change geological effects. Sorry I don't have a reference; the next time I do I'll send it to you personally. One by one the annual reports of the oil companies are turning pessimistic. Exxon will be the last. Time never appears in your equations. Joe Six Pack who bought his car an average of 4 years ago can afford to trade it in now for a smaller car? How many years road life average do cars have? Not owning a car (nor a TV nor a cell phone) I don't know these numbers but I get the feeling that it is in excess of 10 years. Anyway, the last time I looked at Toronto streets, i.e. yesterday, the roads were full of gas guzzling cars, a vanished scene according to you. Everything that takes 10-25 years happened last night in your mathematically interesting world.