woodlside lost browse contract - so what!!!, page-2

The oil problem is creeping up on the world imo. Call it peak oil or whatever you like. After last year's parabolic rise and collapse the peak oil crowd was angrily written off when investors lost out as it came back down to $US30. This has created a false sense of security because the collapse was merely caused by a temporary collapse in demand due to the financial crisis anf the high prices themselves. The American media like CNBC continually push America's political interests in case you haven't noticed. They keep throwing in comments like the world is "swimming" in oil.

Now have a look - US$81, while the world is still in a deep crisis. Mexico and North sea production is collapsing. Iran and Kuwait are way past their peaks and Saudi is a big unknown. Iraq is the last bastion no wonder the US invaded. Obviously that one didn't pan out too well. Oil could surprise on the upside and it's being ignored because people are more concerned with other things since last year turned out to be a false spike. May have just been a practice run.

Natural gas and coal will become more important as time goes by imo. This is where Woodside and others come in.