Enerplus Corp (ERF)

[rhumphre1]

That " chatter " is what drove the price up along with OPEC " hinting " of $200 a barrel oil in the FUTURE! Key word FUTURE!!

OPEC is still pumping with nothing being stated as to any curtailment of that event.

I still question.......have we reached BOTTOM YET? All we have witnessed in this little BURP so far is the GREEDY wanting to make a quick killing and put a false inflation into the mix. Their is NOTHING to date that should drive up the oil prices yet.

OPEC is not going to push up the price YET! No reason to. I have not heard one word out of Russia yet or basically ANY of the countries that are running their existence on oil production.

Until that happens, my gut feeling is that oil should stay at current levels.......BELOW $50 a barrel until we get a hint from one of several countries that they are nearing DEFAULT! That event will be the CATALIST that will start the push to $100 to $200 a barrel oil and OPEC will have PROVEN their economic point!

My guess is once the HEDGE oil dries up, it will take another 4-6 mos. and then we will start hearing the grumblings from the European side of the globe.

For now, I enjoy the cheap gas prices, look for more nice sunny days to drive my vintage '89 Vette and WAIT for the show to start!!

GL2A!!