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  • For Your Perusal: The Glory of Free Market Oil Supply [View article]
    I think the author is trying to show that the main oil supply comes from the Saudis and we better wake up to that fact. The fact that the Saudis can make up any shortage in the total oil supply and increase their strangle hold on us. We are not really talking econ 101 here but where the supply comes from.
    Nov 02 08:19 am |Rating: +3 -3 |Link to Comment
  • What’s the Right Price for Oil? [View article]
    Since the amount of reserves changes with the price of oil we really don't know how much oil the world does have. You can bet it is close to the number quoted when oil was $140 a barrel which happens to be about 70 years worth.
    The price of oil rising is just a matter of time, the question is not Will the price rise, it is when will the price rise?
    Investors have been burnt by the stock market crash and very few will get back in anytime soon. The same thing is happening to the drillers and exploration. These companies will not invest money in new rigs therefore when oil does comeback it will be years before the exploration part catches up. So once oil goes higher, it will stay there for years.
    Feb 12 09:25 am |Rating: +4 -2 |Link to Comment
  • IEZ: Oil Equipment and Services Profits Dependent on Rising Crude Prices [View article]
    If you follow the Relative Strength Indicator you will find that most oil related stocks like RIG NOV Hal etc are still way below the top which is usually about 75. Most of these stocks are currently in the 50's which indicates they still have room to run.
    Even though the oil services companies seem to run opposite the price of oil, the long term prospect for all these companies has to be up. Because we have to discover more oil to keep the world economy going.
    If you are a trader and make your money via short term swings in stock prices then you have to sell on the weakness of oil. But, if you are an investor you must buy and hold this sector.
    If you sell you have to be vigilant in watching for the recovery because the recovery is always faster than the dip.

    Another thing to consider, Brazil is tieing up all the deep water rigs for their new discoveries and this sector is in long term bull mode.
    Jun 19 11:20 am |Rating: 0 0 |Link to Comment
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