mputa 1--what incremental value?, page-55

Supply may slightly exceed supply, short term, because 1) the high prices are forcing some demand constraint
2) OPEC (in their Islamic generousity to the infidel) have decided to open the taps fully for a while.
3) Combined with full open taps, the weather gods are currently being kind to America.
4) Relative calm, peace and stability seem to have broken out in the world's oil producing provinces.

However
1)demand will keep going up in the developing world, eg China, with total oil expenditure likely to track GDP growth
2)More and more will be spent to find less and less outside OPEC
3) OPEC quite like the revenue that flows from high oil prices (and IMO increasingly note 2) and will see that it remains above USD 50/bbl for the OPEC basket). They'll also want OPEC revenue to exceed population growth (and most of them don't believe in rubber raincoats)
3) Americans (and less relevantly Australians just love SUVs, and expenditure is also likely to track GDP (aggravated by constant/nontracking fuel taxes), barring a wake up call from Mr Climate or a regime range reulting in "Laden Arabia" instead of Saudi Arabia.

USD 30/bbl oil or less, dream on, the world has changed permanently. IMO oil will henceforth always be a sellers market.

Charts? wish I could read them better. Fundamentals seem to work better for me, esp with multiple horses like HDR, ROC. IMO ROC was the much better Mauritania horse until recently. Took good profits on HDR last year, been on ROC since while ROC/HDR ratio gone up approx 50%, now buying HDR (but not selling ROC). Finally under Potter Uganda and Guyane look like moving forward (and sorry I can't read that in the bottom of my teacup, or on the charts - shiit, bloody teabags again).

Entropylord