Yael Pipano

Recession Stock Picks From Morgan Stanley's Douglas Cohen

I certainly agree with you about Suncor (SU), and Conoco (COP). This is a portion of an article I read today, from seeking alpha, quoting Byron Wein (I copied short bio on him for you readers out there): " My view is that people underestimate the seriousness of the energy situation. We are only finding oil at a rate equivalent to replacing the oil production that erodes every year as a result of the existing wells getting tired.

In addition to that, China and India are consuming less than two barrels of oil per person per year while we consume 26 barrels, Western Europe consumers 13 to 15 barrels, Japan, Korea the same amount. As China and India increase their consumption, even if the two and a half billion people there only increase their consumption a quarter of a barrel of oil per year, there's no way the world can meet that demand. So I think the price of oil is going a lot higher."

"Oil is going to probably $125 a barrel. I forecast that it would go to $80 last year. "

Byron Wein's updated bio a/o 9/27/07:
Westport’s Pequot Capital Management, Inc., today announced that Byron R. Wien, managing director and senior investment strategist at Morgan Stanley, will join the firm Dec. 1 as chief investment strategist.

Wien will work closely with Arthur J. Samberg, Pequot chairman and CEO, and the firm’s investment team to develop global macro-investment strategies, an announcement said. He Mr. will work out of Pequot’s New York office.

Wien is a seasoned strategist who brings over 40 years of experience in the global financial markets. Prior to joining Morgan Stanley in 1985, he was a portfolio manager for 20 years, primarily at Weiss, Peck and Greer, where Samberg was also a partner.