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  • Marc Faber, Jim Rogers and Boone Pickens - Bullish on Oil [View article]
    I traded USO pretty well from Dec 27 and selling before the inventory report last week (totally coincidental - I'm not a seer). But those inventory numbers were shocking. Between that and the contango, it seems like OIL/USO could find a new low in the next month or two.

    Alternative energy is relatively capital inefficient at this point with oil where it is. I'm all for it from a CO2 perspective, but I don't think the government should be providing any more subsidies than it already is. There's already plenty of capital chasing that sector just because of the presumed government support. It's time these industries stand on their own rather than the government crowding out more efficient uses of resources.
    Jan 11 13:12 pm |Rating: +5 0 |Link to Comment
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