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Wednesday 27 January 2010
Buy Oil Stocks… No Matter What
We really don't know as much about the oil market as we think we do.
There are many numbers out there, but most of these involve a lot of guesswork. For example, we really don't know just how much oil the world will need. The US Department of Energy says we'll need 106.6 million barrels a day by 2030, but how does it know? It can't know. The DOE can't know what the world will look like in 2030.
We don't really know how much oil we're discovering or how much will actually come to the market any time soon. We don't really know how much it will cost to get this oil.
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