long term price of oil, page-10

I "for one" am glad the oil price has come off of its record highs in the US$140s. The inflationary pressure is just too great with oil in the $140+ range and the benefits for a shareholder are more than taken away as a citizen of the world. I believe we will get some stabilisation in the US$110/$120s unless, opec tighten the thumb screws, Iran go on a rampage, hurricane damage etc pushes them up. The whole world would have to go into a deep recession for oil to fall back to the lows (then we are all in trouble).

Glad my metallic (who is close to production) is on the move again. Cash is king and CVN is rolling in the stuff with no debt, great strike rate, great management and yet so much encouraging development/exploration drilling to come.

My complaint is I like all my stocks and have nothing to sell to have "the cash" to scoop up some more CVN stock. Fundamentals give this a sleep easy buy.