Intelli,
China's consumption is low relative to the US, but with 2008 forcast growth still at 500 kbopd, vs forecast US destruction of 500 kbopd, it is my opinion that you would at least weight the impact of China equal to the impact of the US this year. In future of course the US will become irrelevant in comparison.
Then there is India, and meanwhile the poo fuelled rise in oil consumption in the oil exporting regions.
But what I most like about CVN is that due to the SRB it is not a poo sensitive oil stock. A 20% change in the poo will effect CVNs bottom line much less.
The most important two things for CVN:
1) Get NSE production up, eg to the projected eoy 15,000bopd level
2) Get substantial production outside the NSE concession.
Poo doesn't matter that much for this oiler.
EL
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Open | High | Low | Value | Volume |
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12 | 759750 | 0.190 |
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5 | 800000 | 0.180 |
5 | 327022 | 0.175 |
Price($) | Vol. | No. |
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