oil price

Hi everyone.

I've been overseas for 3 weeks and just got back today. It's good to see the ELK faithful still hanging in there. I know we will be well rewarded.

Oil prices show no sign of letting up. I've read a lot of articles that support the price getting to $150 - $200 per barrel, so who knows!

I went to China for a few days and the number of cars on the roads is unimaginable. Shanghai has built so many 3 and 4 lane orbital roads in the last few years. Last year they were flowing freely, this year there is so much traffic. Cars everywhere!

Petrol is subsidised by the government so the people keep buying cars. It's a false economy which is adding pressure to the oil price.

Seeing the changes in driving patterns in China confirms my belief that oil is one of the key industries to be in.

ELK can only go up.