Obama has consistantly stated in interviews and address' that he is committed to a reduction in foreign oil consumption. US has a huge amount of offshore oil/gas reserves which have never been extracted. The US can only export to Europe if the were to export anything at all. Europe is having it's own issues with gas supply (Russia and Ukraine fiasco) so potential is there, however South america would be having a decent bite of that pie.
The US will consume it's own gas reserves. Think about it, the export oppurtunities are limited.
middle east will not "discount" oil as you put it, what's the logic in that?? as demand is still (and will be for sometime) High. Oil is to a large part stockpiled and controlled by IMF anyway.....
As long as china (south-east asia in general) and india's demand for oil/gas remains strong the US position won't be a governing factor. What asia does in terms of their effort for reducing emissions is the big ticket and the only show to watch.
to get back on topic, I'm very happy with my selection and the current direction of BOW. looking forward to the 52 wells to be dropped this year..... certification announcements of these will be even more pleasing!
BOW Price at posting:
$1.40 Sentiment: LT Buy Disclosure: Held
