quote:Originally posted by bfw:quote:Originally posted by g-man:quote:Originally posted by WineTrooper:
When it happens, I think we see a 15-20% correction with the amount of dumb money in the market now. Maybe Dow 20,000. I’ll be a buyer there and will probably go heavy on oil stocks at that time. We are ripe for a commodity rebound and I suspect that regardless of the market, oil will be a safe play.
i dont think so
North america just produces soo much damn oil and i dont see it slowing down with mr orange at the head.
that said, hard tangible commodities are always a nice spot to hide some money
The US produces just under 50% of its oil needs even after the shale revolution.
Plenty being imported on a daily basis.
Meanwhile, worldwide oil demand grows every year (rapidly lately) and companies have reduced investments globally over the past 3 years.
There is a reason WTI is up from a low of $26 to $65. The Saudis and Russians want it and shale cannot meet worldwide growth alone.
I believe that the US is producing 10 MM bbls a day and importing only 2.5 MM bbls a day and overall is a net exporter of energy.