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  • Marc Faber, Jim Rogers and Boone Pickens - Bullish on Oil [View article]
    I agree with the comment above in regard to the cancellation of drilling and development projects. I'd also add that the current price of 40 dollars a barrel makes it impossible to invest in alternatives without government subsidies --- which is not impossible at the moment, especially given the fact that our fearless leaders in Washington are willing to bail out an ice cream truck vendor if necessary to save jobs.

    The problem is that 40 dollars a barrel (or less) is not sustainable for any period of time without geopolitical consequences. Russia simply turned off the spigot and demanded higher prices. What will Iran do?

    One way or another we will get back to the 75-85 dollar a barrel range in 2009. The sooner the better.
    Jan 11 13:22 pm |Rating: +9 -2
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