A view from Europe. I am located in Germany and holding AAE for...

A view from Europe. I am located in Germany and holding AAE for some time. I am confident, that - provided production will start late November - we will see a SP reversal.

Abstract from an interesting report :
Peak oil is now
Only oil that has been found before can be produced. Therefore, the peak of discoveries
which took place a long time ago in the 1960s, will some day have to be followed by a peak
of production. After peak oil, the global availability of oil will decline year after year. There
are strong indications that world oil production is near peak.

To read the complete Report (Energy Watch Group October 2007) :
http://www.energywatchgroup.org/fileadmin/global/pdf/EWG_Oilreport_10-2007.pdf