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

To: kimberley who wrote (50885)	6/3/2009 11:58:53 AM
From: elmatador	Read Replies (1) \| Respond to of 217544

pater tenebrarum seems to be high caliber: well, Japan specifically has a chance to hit the bottom sooner rather than later, now that the downturn has become synchronized globally. but i agree that we should never underestimate their ability to continue to 'muddle through'. as for OPEC having lost pricing power, i'm not so sure about that. the major non-OPEC fields in the North Sea, Norway and Venezuela all have passed their respective Hubbert peaks, and in the case of Norway for instance, the projected decline in output over the next decade is massive. it stands to reason that over time, OPEC will command an ever bigger share of the oil market, Iraq notwithstanding. and it is by no means assured that Iraq's oil will begin to flow freely anytime soon. i wouldn't be surprised if the recent descent into anarchy becomes the norm there, similar to Afghanistan. too many factions are vying for power in Iraq, and can be expected to begin fighting each other as soon as the occupation force is gone, or perhaps even while it is still there. Message 18847327