Very valid points IMO. Emerging markets will keep a strong demand for oil and improved market economics will also be a driver.
Both of those combined with the fact we are already out of cheap oil and it is costing more to recover such as oil sands / deep sea. This recent pull back has created a great opportunity IMO.
"My well came in big, so big, Bick and there's more down there and there's bigger wells. I'm rich, Bick. I'm a rich 'un. I'm a rich boy." - Jett Rink