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Alistair,
Like I said before, not much action in N. America either. We just wait and see. In the meantime ~4% dividend will have to do.

As to the outcome of Vienna meeting today: well, I am not expecting much, other than temporary bounce up of oil prices (already in effect since Riyadh). Bottom line is that country like Venezuella will not reduce production simply due to it's internal political pressure (read: they need oil revenues just to keep internal order). Mexico needs revenues as well and their hope is through increase of market share in US. Norway mostly, but others as well, in North Sea are not likely to decrease their production since all this production infrastructure is all new (after all, it all costs big bucks - and payments need to be made). Same goes for east coast of Canada (production just started, yet billions have been spent so far). All this said, biggest stumbling block to higher oil prices is the fact that: N. America, by far the largest energy consumer, no longer cares for supplies from Middle East. The Atlantic Basin production just went through (and still going through) a major growth phase. This means that purchase of Middle Eastern oil will only be for political reason (read: it's cheap, it will be used to keep local producers in check). So, the bottom line: I see oil trading more-less in US$ 13 - 16 range, with lows hitting US$11, at times. This scenario should stay in place for at least couple of years.... maybe more. Back to you....

Casey...
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