Interesting. According to Wikileaks, SA has about 40% less oil reserves then they are reporting.
Trending Content - Off Topic Forum
| +35 | EpsteinBooks Dispute: Child Molestation Optimization Process | 5 | 3h |
| +30 | Wall Street’s premier CoC clan | 7 | 2d |
| +25 | Favorite slop bowl for lunch? | 18 | 3d |
| +21 | ADHD & Living This Life | 5 | 1d |
| +10 | Ferda | 1 | 5d |
Career Resources
Peak oil baby
Link to story: http://www.guardian.co.uk/business/2011/feb/08/saudi-oil-reserves-overs…
Time to go long oil, and go long chesapeake for the nat gas play.
Gonna buy dem oil etf calls. Any suggestions?
Here's my play: http://www.google.com/finance?q=AMEX:BQI
Any thoughts on what comes next?
US diplomat convinced that Saudi Arabia's reserves may have been overstated by 40%"
That's Mr.Foreign Service's opinion. Which makes it 10 times LESS credible. I think the reserve estimates are roughly accurate. That's also according to a bunch of people I know who work in the oil&gas sector (cousin is the Principal RE at a big oil company's Asia ops, 2 of the most senior executives were best friends with gramps in college and are close family friends, and a whole bunch of others).
The general consensus is that Saudi Arabia has reached its peak, but the remaining supply is enough for the next 80 to 100 years as long as the production numbers stay below 15 mbd.
Some PEs I met (non-saudi and saudi) still believe Saudi Arabia hasn't reached its peak yet but is pretty close (within the next 10 - 20 years).
So many expert opinions!
Even then, I think it's smart if you went long on oil and oil etf calls.
Khallas, I'm going in.
You guys really need to read T. Boone Pickens' book. Dude is an absolute genius and deals with this issue, and ones like it, in great depth.
The Oil ETF (USO) closed January 27th at $35.94 and hit $39.01 on January 31st. That's over an 8% move in 4 days.
Yeah T. Boone is the man and it looks like peak oil is definitely on the way soon. I still love RIG as another play.
The big long ?
Who told you my High School nickname?
Tempora aut voluptatem et. Sit assumenda repudiandae non in consequatur sit aut. Sunt qui corrupti voluptatem numquam autem. Doloribus et ad earum dignissimos qui quo. Nulla nulla vitae cumque dolorum temporibus enim illum.
Cumque enim in unde. Modi commodi ratione repudiandae id saepe vero impedit. Suscipit ex possimus illum non reprehenderit voluptatem qui. Harum odio velit sed est voluptatem.
Eum dignissimos quia quas qui autem. Ut dolorem voluptatem ullam et exercitationem vel aut vel. Et expedita et et.
Animi est pariatur officiis aut est repudiandae. Iste aut sunt tenetur. Ipsam perspiciatis qui distinctio ipsa. Sint et expedita libero quas earum accusamus quae omnis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...