SPDR Oil & Gas Equipment & Services ETF (XES)

[OilStockReport]

Haha yes I am ready. I know there are a lot of conflicting points of view on what oil prices will do over the next 1-2 years but I think we are about to see a new leg of this bull market.

I do also like BQI here. I've been playing that one since it used to be Canwest some 5 years ago or so.

Here are some interesting expert opinions I have been tracking on oil prices:

Jeff Rubin forecasts in his book Why Your World Is About to Get a Whole Lot Smaller: Oil and the End of Globalization that the price of oil will reach $225 a barrel by 2012, thanks to increasing demand and decreasing affordable supply. Jeff has been named Canada's top economist 10 times. Click here to read more about this research.

www.thegreeninterview.com/jeff-rubin-bio

Oil prices to double by 2012: Canadian study. Analyst Jeff Rubin in his report noted accelerating depletion rates in many of the world's largest and most mature oil fields. He estimates oil production will hardly grow at all, with average daily production between now and 2012 rising by barely a million barrels per day.

http://www.breitbart.com/article.php?id=080424190433.04dy6kj4

Goldman Sachs had the highest 2012 forecast of $130 a barrel a recent monthly oil poll, well above an average of $106.80 a barrel expected in 2012. JP Morgan latest crude oil price forecast remains on the upside.

http://www.liveoilprices.co.uk/oil/oil_trading/10/2011/jp-morgan-latest-crude-oil-price-forecast-remains-on-the-upside.html

Energy analyst Charles Maxwell of Weeden & Co says by 2020, when we have 1.5 percent increases in demand each year and 0.5 percent declines on the downside, then we’ll really be in a fix. At that time, I’m looking at $300 a barrel in money of the day.

http://turnkeyoil.com/2010/11/18/300-per-bbl-oil-by-2020/

Research provided by 247 Wall St analyst Paul Ausick stated, demand growth for crude in 2012 is nearly certain to outpace supply growth. That’s the main takeaway. If the US kicks off another round of easing, the gap could get even wider. Either way prices at the pump are surely headed back to more than $4/gallon. And higher would not be surprising.

http://turnkeyoil.com/2011/07/14/high-demand-mean-high-priced-oil-in-2012/