Announcment brewing.., page-20

whisky ............ you recall we were debating if the us would ever become self-sefficient in the production of oil well i found an article in the New York Times saying the following:

for the first time since 2007 the us oil consumption rose

that the total production of oil is at 970m bpd

that the us consumes 18.9m bpd

you can read te entire article in my post

in summery the last years rise in consumption was greater than the rise in production so they went backwards also they need to produce approx double the amount of oil to become self sufficient however the oil produced from shale will now drop rather than increase.

also lets not forget that the us winter is just starting to bite storms will hit from mid jan which will inevitably push up consumption and hopefully prices.

am convinced that oil will rise but only in the range of $85 - $95 pb and will probably occur 2q 2015

hkp