Zman

What's Happening With Crude Oil?

Pinellini has attacked just about every writer on this site so I'm honored. My rebuttal:

1st paragraph: clueless about fundamentals. Please come check out all the fundamental stats and analysis on my site at:

zmann.wordpress.com/

2nd para: depletion is a fact of the business but if you're a peak oil guy you're going to have to be patient. Russina will add 2 to2.5x the amount you're citing will be lost from Mexico this year. Brazil is on the rise. Angola, and more. Some benign neglect regions like Mex and Vz will fall for a time but this is management and will be corrected over time. The Saudis just announced they'll be over 12 mm bopd by 2010. The list goes on.

Para 3: demand destruction...I assume you're talking about crude? There is none. None. Early adopters are exhausted with the Prius and Toyota has got 0% on them. SUV sales recovered after gasoline plunged from $3 to $2.20. Anyway, I've been on the buyside and sell side in energy research but if you can stand to learn a thing or two from a lightweight then do stop by the site. Or don't because pointing fingers at everyone around SeekingAlpha only proves you're too smart to learn anything anyway so why bother.