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This b.board is getting interesting......excellent input and what a diversity of opinions!

Few points to remember and contemplate while looking at a future price of oil:

- once wells have been drilled, exploration goes on,etc. it's very hard indeed to plug a well when prices don't give you the required cash flow. All money spent on exploration/drilling/developing the field are pretty much "sunk costs". The present cash flow ( revenues from selling the crude ) is what's all about. That's why it's so damned difficult for anybody, not alone so-called "Third World Countries" ( i hate that definition anyway) to turn the tap and let an other producers reap the benefits.
- competing fuels ( nuclear, coal, LPG, solar/wind,..)also are getting more + more important in determining the value of crude. To give an example: France generates about 85% of its total electric power generation from nuclear fuel. In newly developed countries, LPG is becoming increasingly popular in power plants. So it's not only supply/demand of crude that sets the price ( allthough very critical indeed) it's also the values of competing fuels one has to look at.
- from somebody who doesn't live in the US, i must admit to the view that in the US the world can't be more sunnier than today: the grasshoppers have the time of their life. But, hey, enjoy it while it lasts.....!
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