Ann: Strategic Review, page-49

Sturminator1

"Selling assets to stave off someone buying the company is not a good enough reason to sell them."

Maybe we should sell the lot and wind up the company.

T Boone Pickens thinks the oil price will return to 100 USD/ barrel, but here I go arguing against a self-made multi billionaire!  I can't see oil getting back much over 60 USD/barrel for two reasons

• ONE.  Because of US Shale drillers will start drilling again when oil gets back in the seventies (that is the opinion of experts)
• TWO  Demand for oil will start falling as Governments around the world begin legislating to ban the use of oil in vehicles (to cut greenhouse gas emissions).  There is a global glut of oil now but what will it be like in 2025 as US manufactured motor vehicles must be 50% more fuel efficient?

I don't think the oil industry has a bright future.   I' ve had enough: I just want my money.