bull market almost over...., page-4

I dont agree.

Oil has been too cheap for too long and price's will not fall under $100 a barrel for a very long time IMO.

In fact I doubt we will see oil under $100 in the next 10 years.

While oil producers may ramp up production they are going to struggle to keep with the ever growing demand for it. Each year that goes by the demand for oil is growing.

The basis facts are these: The entire world now both produces and consumes some 75 million barrels of oil a day. By 2015, or a decade away, demand is expected to increase by more than two-thirds, or by another 60 million barrels a day.

This extra demand simply cannot be met. We would have to find and develop the equivalent of 10 new North Sea oilfields in just a decade. Even if Iraq's oilfields are fully developed, with almost unlimited new investment and new technology, it could only produce an extra 6 million barrels, or a mere one-tenth of the amount needed.

The oil multinational is predicting that conventional supplies will not keep pace with soaring population growth and the rapid pace of economic development.