tag:blogger.com,1999:blog-1527840491496268397.post2508117340070197516..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: Interesting Thoughts On the Oil GlutUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1527840491496268397.post-24096306620177285582015-02-13T22:39:45.421-07:002015-02-13T22:39:45.421-07:00This is nothing but a paralysis by analysis nonsen...This is nothing but a paralysis by analysis nonsense.<br />For being a astute oil investor, he seems to miss the elephant in the room. Namely how precise the balance is for supply and demand in oil. Just a few barrels either way make huge swings in pricing. <br />Whatever this babble says, the longer term view of oil is very bullish. Nobody would be fussing with shale and oil sands if the world was really awash in cheap, easy to get oil. It isn't. <br />For a really laughable analysis, read the EIA's forecast of the world demand growing to near 100 mmbopd in 2040 AND they surmise that production will match that demand. Where they think the world has hidden 3 or 4 new Saudi Arabias I don't know especially when they also conclude that 75% of OPEC countries have entered permanent declines in their oil production.<br />The U.S. , through intensive effort pushed its oil production from 5 mmbopd to 10 mmbopd. Take that 5 mmbopd away and see how complacent people would be about oil. And for all the talk about the U.S. becoming another S.A. , the sad truth is that all that shale oil is not materially increasing the estimated reserves of the U.S. The shale move may well be over in 5 years. whydibuyhttps://www.blogger.com/profile/10101676402335591169noreply@blogger.com