Magellan Petroleum Corp. (MPET)

[OilStockReport]

Very good article. I really agree with the three points it makes:

So the world needs to come to a common understanding that:

1. Alternative energy is not mature enough to completely replace fossil sources any time soon.
2. Energy security means a diversified and balanced portfolio inclusive of every bit of resource, fossil, as well as renewables, just to meet the projected demand.
3. Real "green" energy is easier said than done.

I have done quite a bit of research into "Peak Oil" and find the most accurate assessment from Jeff Rubin where the main point is that we are not running out of oil (with new technology and shale findings) but that we are already out of cheap oil.

Whichever is the most likely doesn't really matter when it comes to the supply/demand equation. Costs are going up to recover and demand continues to thrive. If I am not mistaken I saw a chart the other day showing China's oil / energy consumption is supposed to have doubled by 2013 or so from 2000.

All in all we are investing heavily into oil projects, equities and funds. With triple digit oil coming next year and the likelihood of all new highs this is going to be one of the biggest bull sectors (second maybe to gold).

All in my opinion of course but I am very bullish MPET among a basket of others.