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  Oil Price Outlook: Much Higher to Go
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Josh Fuller  
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 More options Nov 1, 12:41 pm
From: Josh Fuller <jfkful...@gmail.com>
Date: Sun, 1 Nov 2009 09:41:22 -0800 (PST)
Local: Sun, Nov 1 2009 12:41 pm
Subject: Oil Price Outlook: Much Higher to Go
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With commodities, the way the academics talk about it, it's the
clearing price—it's the price at which supply and demand come into
balance. You're going to have enough coming to market to meet whatever
demand there is, and that will be the price. Unfortunately, that price
never existed because with open markets, prices fluctuate a lot. I
know it's much higher than now because right now oil reserves around
the world are declining at a fairly steady rate. At present rate of
consumption and production, we won't have any oil in 20 years at any
price. So I know it's got to be higher in order to bring out more
supplies of energy and to reduce consumption of energy. What is that
price? I don't know, but it's a lot higher than where it is now.

Now that doesn't mean that oil can't go down by 50 percent next year.
If suddenly the U.K. goes bankrupt, I promise you oil will go down by
50 percent next year, but if America bombs Iran, oil will go up by 100
percent next year. So it depends, but over the next decade, the
surprise is going to be how high the price of oil stays and how high
it goes.

Cheers,
Josh Fuller
www.billionairebythirty.com


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michael Bill  
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 More options Nov 10, 2:07 pm
From: michael Bill <mbil...@googlemail.com>
Date: Tue, 10 Nov 2009 11:07:40 -0800 (PST)
Local: Tues, Nov 10 2009 2:07 pm
Subject: Re: Oil Price Outlook: Much Higher to Go
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The International Energy Agency (IEA) has been underplaying the rate
of decline at existing oil fields and overestimating the potential of
new reserves to avoid panic buying, a senior official alleged.

The agency last year claimed that oil production could be raised from
its current rate of 83 million barrels a day to 105 million. Its
latest estimates – contained within the World Energy Outlook report to
be published on Tuesday – are expected to contain a broadly similar
forecast.

"Many inside the organisation believe that maintaining oil supplies at
even 90 million to 95 million barrels a day would be impossible but
there are fears that panic could spread on the financial markets if
the figures were brought down further," the newspaper quoted the
whistle-blower as saying.

http://www.telegraph.co.uk/earth/energy/oil/6534424/World-energy-body...

On Nov 1, 5:41 pm, Josh Fuller <jfkful...@gmail.com> wrote:


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