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AvalosJuan

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AvalosJuan

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Friday, 09/05/2008 3:38:59 PM

Friday, September 05, 2008 3:38:59 PM

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"Oil prices could be $500 a barrel within three to five years," warned senior energy advisor Dr. Robert Hirsch. "The reason is we're limited by geology... there just isn't that much oil out there. We need to produce three to four million barrels of new oil each year just to stay even (to offset the decline in older fields)."

Think Hirsch's $500/barrel oil is a pipedream? Then consider the political turmoil in Nigeria, Iran and Angola... all powder kegs that could explode at any moment, immediately cutting off millions of barrels of daily supply.

Imagine EENR after 2 to 3 years.
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