redbaron

Crude Oil: Bull or Bear?

One other thought, It is not the Interior Dept that needs to decide to drill here, and now. It is the oil companies. The oil companies will drill where they have, 1) the best chances of success, 2) the least cost, and 3) the most favorable access to transportation and marketing. This is not a political decsion, it is an economic one.

Crude Oil: Bull or Bear?

I believe in the overall concept of peak oil, and agree with the general comments of this author. In the near term, there is not a substitute for oil, and the options available are not being pursued fast enough to offer any real alternatives to using oil for transportation. I believe oil price will continue to trend upward, as the decrease in inventories will not be offset by any meaningful further decrease in demand. But, alas, I could be wrong.