Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
It argues that although oil looks like the 21st century equivalent of the dot-com bubble, it's not. They predict that oil will stay at the current price level for several years, even rise further. The biggest worry isn't that the price will decline. It's that a "superspike" will caused recession.
And they do mention depletion. "Dwindling supplies" is one reason oil prices won't come down any time soon.
Joined: Apr 27, 2005 Posts: 108 Location: California
Posted: Fri Jun 10, 2005 10:50 am Post subject:
Interesting. I've been noticing the low P/E ratios of some of the oil and related companies I've been looking at.
Also interesting is that Bernstein, Merrill Lynch's top analyst, recently released a very understated sector report in which he noted that the energy sector "is commonly believed to be no longer cyclical". How's that for finance-speak for constraints?
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