This issue is absurdly oversold. I wonder how many people in the world actually believe that the price of oil isn't being manipulated by the Saudis and the US? That this is a 'natural' glut in a commodity that a year ago was being predicted to 'run out' as soon as 2050 with prices between now and then headed towards 'a minimum of $800 a BBL' LMAO?
The Saudis agreed to this because they have enough money to sit out oil at $10 a BBL for the next 10 years AND to punish their Shia OPEC enemies for decades of constant secret deals and back door over quota production. The US is in on it to trash the Russian economy and punish Putin, to trash Syria's economy and unseat Assad so they can help place a new west friendly President and clean out the entrenched ISSL/al Qaeda terrorist rat nests and to twist Iran's economic arm in negotiating a no nuke treaty with genuine international verification allowed on the ground. The beauty is the staged mini glut produced by US/Canada and a select few cooperative OPEC drillers in combo with weak Europe and Chinese economies has already had devastating effects on oil driven economies. My guess is the set up will have accomplished most US/Saudi goals before mid year 2015.
I see the price of oil back over $65-70 BBL by September 2015 and at $85 this time next year. BBEP has adjusted their dividend/payout and capital spending to allow for oil under $65 BBL all of 2015 and under $85 all of 2016. Worst case scenario the stock should already have rebounded close to $8 a share. As it is the markets are unsettled because of the endless stream of bad news from everywhere and the pressure short interests have on the futures markets. BUT, the day is coming soon when it's going to be a mad rush to see who's the last sucker out the door covering oil. Add that squeeze to ANY of the following news; that Iran has agreed to full verification of their nuclear program in a new deal OR that massive demonstrations by the Russian people are taking place in the streets against Putin OR that Assad has stepped down from power in Syria and ****voila****! Watch the price of crude rocket back to $70 a BBL overnight....taking BBEP's share price with it.
I see BBEP share price in lockstep with the price of oil as follows:
$60 BBL BBEP $6.50 to $8.00
$70 BBL BBEP $8.00 to $10.00
$80 BBL BBEP $10.50 to $12.00
$90 BBL BBEP $12.50 to $15.00
Stand by to profit from the biggest con game ever to hit the oil markets...courtesy of Uncle Sam and their Arab Sunni allies...
Pojama people, pojama people people...Lord they make you sleepy with the things they might say...
