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Author Message  hilarius Member Username: hilarius Post Number: 927 Registered: 04-2004 Rating: N/A Votes: 0 Wednesday, August 31, 2005 - 06:38 am:     From an overnight UK-based report ... with the substance confirmed on Channel 9 in Sydney this morning :- [Quote] It appeared an odd time for billionaire magazine publisher Steve Forbes to predict a catastrophic oil-price slump, but that's what he did this weekend. Forbes predicted that the next 12 months would see a crude-price crash which would make the dot-com slump of 2000 "look like a picnic." He said that most of the rise in oil prices this year was down to speculation and speculation alone. Yet again another extreme view has been presented by a well-respected market player. A crash is as unlikely as 100-dollars-a-barrel oil, in our view, but not entirely out of the question. [End of Quote] So the natural price of oil is said to be in the $30-$35 area by Steve Forbes if I heard him correctly. Such a humble guy as Steve should be offered a Friary Prayer Breakfast speaker role. Meantime what do I with my humble oil stock holdings? Hilarius (alias John Paul Getty in my dreams) I come in peace to share my thoughts and to shine my candle light on possible long term opportunities  ageo308 Member Username: ageo308 Post Number: 1 Registered: 08-2005 Rating: N/A Votes: 0 Wednesday, August 31, 2005 - 08:17 am:     As much as id like to listen to that, can someone please tell me how oil is gonna go down when most people depend on it and the U.S now have a major control over supply? Unless other oil companies reduce there prices there is really nothing to it as they are all laughing.  archer Member Username: archer Post Number: 927 Registered: 11-2002 Rating: N/A Votes: 0 Wednesday, August 31, 2005 - 10:17 am:     ageo try googling for oil sands projects  perler59 Member Username: perler59 Post Number: 731 Registered: 09-2003 Rating: N/A Votes: 0 Wednesday, August 31, 2005 - 12:01 pm:     At what cost per barrel? http://www.greencarcongress.com/2005/08/shell_canada_oi.html "But even if the expansion cost is shared across the total volume of the subsequent planned expansions (essentially tripling the volume), that still works out to C$66.67 (US$55) per annual barrel of production—and that’s without factoring in any additional capital costs for the final two expansions." http://sttc.net.au/~stever  archer Member Username: archer Post Number: 928 Registered: 11-2002 Rating: N/A Votes: 0 Wednesday, August 31, 2005 - 01:55 pm:     It depends what you read perler I have seen it written they can produce at 40PB and ive seen it as high as 90PB The point is there was no money flowing in for R+D when oil was so cheap Now the money is being thrown at the Canadians left,right and centre Money that will be used to devise more cost efficient ways of extracting the oil The chinese will make sure of it  moleman Member Username: moleman Post Number: 127 Registered: 10-2003 Rating: N/A Votes: 0 Monday, September 05, 2005 - 06:16 pm:     Hi Hilarius Bill McLaren is also calling a correction in oil. http://www.mclarenreport.com.au/yvs500/default.asp?id=473 cheers moleman

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