i'm buying, page-6

Im not as confident with long term oil as i am base metals, i know bhp is a major oil producer though.

Average 20k shares at 23.50...lets rock!

BHP expects continued demand from developing countries
21:02, Thursday, 23 October 2008

Sydney - Thursday - October 23: (RWE Australian Business News) -
BHP Billiton (ASX:BHP), still believed the industrialisation of China
and other developing countries would continue to drive demand for its
products, chairman Mr Don Argus told the BHP Billiton plc annual meeting
in London today.
"There is no doubt that China has been an important driver of
growth in resources demand, underpinned by its unprecedented
urbanisation push. Urban population has increased by 300m people since
1990," he said.
"Macroeconomic indicators now show that Chinese growth has
softened recently, albeit from very high levels. We believe that
softening is due to both domestic and global factors.
"With receding inflationary pressures, large financial reserves
and a deep desire to grow, the Chinese economy should show some
resilience and we note the International Monetary Fund growth forecast
of around 9pc for 2009.
"Despite this short-term uncertainty, we remain convinced that
the ongoing industrialisation and urbanisation of China and other
developing economies is still at a relatively early stage and will
continue to drive strong long-term demand for our products.
"Over the next 20 years, we believe Chinese cities will grow by
another 350m people," Mr Argus said.
He noted that the China National Bureau of Statistics had just
released the latest gross domestic product data, which showed that
third-quarter growth came in at 9pc year on year.