Zeev's Turnips Patch-No Politics (ZEEV)

[S Chun-Li]

Yes, there are quite a few potential scenarios that could send price of oil skywayrd for a while. But I think it will only be short term. The long term picture is a world full of oil and many more potential areas for production such as your example.

And of course, there will be an end result to any Iraq war that is likely to involve that particular country once again becoming a major oil producer. I am just waiting for my opportunity to short oil back down to $18 and possibly much lower over the long term (2 yrs or so). No way going short at present though, but not going long either.

I will try to find out if the US is still buying as much strategic oil as poss. It is difficult to get this info straight away as the news comes thru the grapevine as the guys come off the rigs.