Interesting topic indeed. I've done a terrific amount of reading this year that points to increased oil prices due to the demand curve moving away from what we can produce.............then, to discover that there are billions of barrells of shale oil in North America awaiting extraction - the Texas oil boom isn't anywhere a boom yet - watch the next five years.
So it's a puzzle; we are either nearing peak oil near-term, or the oil is soon to be awash with shale oil. The USA could find itself once again an exporter of oil but it depends on a few things - extraction costs out of the shale deposits, and environmental concerns about fraccing are but two things to consider.
Relating all of this back to GGP, and a retreating oil price right now. Where do most posters see oil heading over the next year? If things can stabalise in Europe I think oil will settle around current levels but long term is a head-scratcher, that's for sure.
DJ
DJ
GGP Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
