Oil is the big conundrum in my view Loki . Everyone talks about IO in terms of future demand but ignoring what's going to happen next week I believe the IO story is flawed and the biggest no brainer over the next decade is energy . Against the backdrop of the politicism that accompanies supply and demand for oil it makes for an intriguing mix in terms of what happens to the price.
Fwiiw I'm an oil bull until proven otherwise .I reckon this phase is engineered to scare all the numptees into thinking it's going back to the 50,40 whatever . If you want to find an oil bear there's one on every street corner . I like the oil story on the fundamentals of demand ,most of the supply is held in ,relatively speaking ,few hands ,so sooner or later those who are making the shekels out of it will maximise the returns . The US shale story is ,in my view ,overrated ,if not overrated certainly unproven . I also like the fact that the one thing really collapsing at this minute is the POO ,wheras in everday life it's the one thing ,especially the emerging economies ,needs.
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