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More poppycock. Another reason to ignore this crapola. No mention of all the new oil in North Dakota and Texas using "fracking" technology. Come on guys.
Not going to happen. The dampening effect of the higher energy prices will act as a feedback mechanism to throw the consuming nations into recession, thus reducing demand. Saudi Arabia knows this already, and they also know that if they go much above what the market will bear they will come out on the short end also. The larger and richer oil producing states have a significant amount of investment in their customer's countries. As far as BOA predictions, they can't even predict what might happen to BOA should they buy something like, oh, say, Countrywide Financial.
I remember near universal scorn around 2007 when one of the big houses (Goldman?) predicted it would hit $105. CNBC pundits went nuts. Few thought it possible. Yep - the world's awash in oil. Got tar-sands galore to the north in Canada. Real issue affecting what we pay at the pump (in addition to speculation & price-gouging) has to do with cost of extraction, ease of bringing to markets, and environmental issues. (They can "frack" in OJ and Ted's backyards - but not around here!) Also, not all oil is created equal. Some of the highest quality - more desirable for refining into gasoline - is in places where the natives are not exactly friendly to us.
Nobody knows what price oil will go to. This article and plenty more like it suggest that the oil and gas infrastructure in North America (and likely elsewhere in the world) is getting old and needs maintenance and/or replacement. Oil equipment suppliers and oil services are how I'm playing this game.
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The export menu:
---grain crops
---refined fuels
---military warfare items
---U.S. Treasury issues
There must be more.........
http://www.cnbc.com/id/45826765/
http://m.theglobeandmail.com/globe-investor/how-safe-are-north-americas-pipelines/article1913830/?service=mobile