Empire Energy Corporation Intl. (fka EEGC)

[gkm_nz]

Here are a few comments on oil that I picked up from a recent Bloomberg interview.

Recession oil price = $70
Oil needs to be $70 and above to keep the producers happy and is expected to be a lot higher when the economy gets moving better.

Electric cars - Infrastructure still needs to be largely developed and would be at least 10 years plus to support full electric cars with better charging range etc. The hybrid is still the most likely model for some time. Companies in the news offering full electric cars can only compete with oil over $70 and in their business model they predict oil to move much higher based upon current recession pricing. Manufacturers have commented that they want to capture 10% but other analysts say it is more likely only 0.05%

Meaning that anyone who has a big oil source, will still be making the dollars for quite sometime due to demand - if they can get it out reasonably efficiently.

Further USD devaluation will also have a pricing impact.

I would be much happier running the calculations if we had a confirmed source!