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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: Hugh Bett who wrote (67533)	9/23/2011 10:44:05 PM
From: Winfastorlose	1 Recommendation Read Replies (1) \| Respond to of 207338

The Chinese would love 10 dollar oil. They could use that 2 to 3 trillion dollars they have hoarded to buy up a lot of oil production if oil hit 10 bucks a barrel. In the 2008-2009 rout, the Chinese were buying up everything they could get their hands on in the way of raw materials and raw materials production.

To: Hugh Bett who wrote (67533)	9/24/2011 9:53:10 AM
From: berniel	Respond to of 207338

Most major oil co. Have producing reserves on there books 6.00 a barrell. Of course a lot of those are being depleted now at a rapid pace. That's why you see a major like Xom selling off there Gulf of Mexico assets and buying co like xxi.

To: Hugh Bett who wrote (67533)	9/24/2011 5:02:12 PM
From: da_cheif™	1 Recommendation Read Replies (2) \| Respond to of 207338

>how can oil go to 10<.......its been there before eh.....lessee......if the producers need money and lots of it to pay for their skyscrapers ,and debt...etc etc...russia is the biggest producer.....and has huge cash needd.......they gotta pump more oil........but they have been doing that for that very reason. the world is flooded with oil....and a price war seems inevitable.....when oil was 10.....my idea that it was goin to 20 30 40 was met with total disbelief...who can produce oil for 10????.....well there will be fewer producers when it gets there and the whole cycle will start all over again......