Oil is on its way out., page-4

Hi Peekaye,

What Credit Suisse have said is (IMO) a bit like saying all the businesses on Bondi beach are worthless if it rains every day for the next few years.

Years ago I knew a guy who owned an ice-cream van who would go to all the sporting events and make a small fortune each weekend. I asked what happened if another ice-cream van set up near him.

He replied, "I simply give away free ice-creams until the other bloke packs up and leaves."

To me at least, the arabs are doing something similar...trying to make the US oil operations (and all the renewable energy schemes) uneconomic. Once they have reduced competition prices will rise to nearer $100.

After a few hiccups, gas will be the favorite energy source for the next little while.

Cheers,
Blackpete