Zeev's Turnips Patch-No Politics (ZEEV)

[otraque]

Many oil analysts as opposed to OPEC (which keeps trying say its speculators), keep saying this is not a speculation event; the best guy i heard this week via Bloomberg Europe TV was a Jon Randolph of World Rearch Center say that for supply/demand to just stabilize there will need be an oil field equivalent of Libya discovered EVERY year and an oil field equivalent to Saudi Arabia discovered every 5 years just to match demand growth.
I heard Oil people express view the BIG new oil field just simply is not out there---these guys have been scouring the entire planet and are getting pessimistic.

i do agree with those that we will never see 35 a barrel, again.
And to get to below 40 you are going to require a global recession, imo.