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A lot of oil bulls on this commentary -- or is it just BULL?
Jul 18 01:19 am
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All Comments by anaconda »Confirmatory Bias and Oil Investing [View article]
starkoski: You are right, geology beats psychology -- but geology is wrong about the origin of oil. Oil is a mineral. Why do you think the oilfield services companies are riding high? If there wasn't much more oil out there to find, it wouldn't matter how high was the price of oil. Oilfield services companies are in the business to find oil.
The U.S. plateau in the '70s was when oil was regulated, some as low as $3 a barrel -- big surprise oil companies weren't looking for oil.
The continental margin is where the truly big deposits of oil are and that has just begun to be explored.
That's why day rates for deepwater, deep-drilling rigs are at record highs.
'Markets' are determined, not so much by the logic of words as by the sterner logic of facts.
Demand destruction is real -- "Peak" oil is false.
"Peak" oil is rubbish -- <a
Href=“http://oilismast... “> Oil Is Mastery.
If you want to look at the science of oil then Oil Is Mastery is the place -- your blind devotion to "Peak" oil will make you a poor fellow.
Your arogance will be your downfall.