geopolitical risk

To change the subject....

there is significant risk involved in investing in 3rd world countrys.....the USA looks to be trying as hard as it can to end up bankrupt....On oil alone it currently imports between
9-10mil barrels a day....works out (on some really rough numbers) around $1,800PA per man, woman and child!!!!!
Crazy stuff....

politicians can be incredibly dumb at times....when they wake up to the fact that its not speculators who are resposible for current high oil prices we could see them start to do stupid things, especially if oil continues to march higher as a number of high profile people within the industry have forecast....There has already been talk of winding back tax breaks for big oil and taxing oil company profits harder, which would result in less incentive for exploration and developement....opening the tap on the strategic reserves......sueing OPEC, Libya, has already threatoned to cut exports in response to this threat.....they did invade Iraq for oil afterall....where do they go from here????

5 years time, I suspect that the US is a very different place....and not for the better....ELK may need to look to conduct future projects in wealthy secure countrys like Iran Iraq nigeria libya venezuala etc.....
Cheers