Spend now..........or

[Mega]

http://www.upstreamonline.com/live/article174237.ece

Mike

[nitroglycol]

Re: Spend now..........or

Great. Nice impartial advice, that.

[loweyecue]

Re: Spend now..........or

Of course he is biased, but there is some truth in what he says, isn't there? IF they keep making major cuts in production the demand will soon outgrow the supply and there will be enormous hikes. As long as the cartel doesn't blink first this is bound to happen at some point.

[nitroglycol]

Re: Spend now..........or

That's true so far as it goes, but if that money were invested in alternative energy sources instead (and those will be needed eventually, regardless of investment in oil extraction now) it would probably be money well spent. But that seems to be precisely what Mr. Naimi is telling us not to do.

[loweyecue]

Re: Spend now..........or

That's true so far as it goes, but if that money were invested in alternative energy sources instead (and those will be needed eventually, regardless of investment in oil extraction now) it would probably be money well spent. But that seems to be precisely what Mr. Naimi is telling us not to do.

Yes I agree that the focus needs to be on alternative energies, but this will result in a period of time where OPEC will wield a great deal of power before those alternative energies catch up with the demand. Right now a depression has been priced into most energy markets but the stock market will probably recover lot sooner than an alternative enrgy source can acheive viable status. So what he seems to be saying does make sense for the window of time between those two events.