posted
add oil drill in Alaska. Also OPEC increase half millions barrel per day. The news announced from Public Radio International.
-------------------- Disclaim: I don’t guarantee the accuracy of the information I post. All my posts are based on my own research. I am not a registered investment advisor and therefore I am not qualified to give you any investment advices. You Make Your Decision! Posts: 389 | Registered: Mar 2005
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CHINA! they are bidding against US for oil...
and will be for the foreseeable future..
do not MISunderestimate the issue of hedging against the dollar...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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<stockvaper>
unregistered
posted
Sorry I have to disagree. If you're referring to ANWR oil reserves, that oil won't come to market for about 8 years. And China's demand on oil has increased pressure on OPEC for an additional 2 million a day (so far) according to oil analysts. I believe oil will continue up for years to come.
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Sometimes the market go different way in short term(mid term) against long term.
Yes. demands of crude is big in Asia. But, as crude climb over 50 and most economy entities in ASIA suffered recession in 1Q, future demands become a question mark'?' now. Japan and Korea already show some bearish signal in other sectors.
Here we have another more important factor in crude price: USD. We mostly use USD to scale the level of crude. As USD go strong. the momentum of crude may get no leg. Weak USD surport high crude. Strong USD drag all commodites!
Posts: 742 | Registered: Dec 2003
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Oil prices are pretty much demand driven. I don't see Japan and Korea as a major player compared to China and Singapore (which have economies increasing at a rate twice that of the U.S.). Also with other resources of oil (other than OPEC) in jeopardy (i.e. Venezuela and Russia), I don't see the supply increasing much. Using Economics 101 it's the ole' Supply vs Demand. I see demand increasing and supplies relatively stable.
-------------------- "Whether you think that you can, or that you can't, you are usually right." - Henry Ford Posts: 798 | Registered: Jun 2004
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AKOL has been a speculative play...they partnered with an oil prospector that has bought/leased several thousand acres of land in Cook Inlet (Alaska) with some proven and some unproven reserves. They have a very good potential of bringing in oil and natural gas based on my DD of them. (Try research under their old name "Frontier Oil and Gas Ltd). I think they're down today because of profit taking and taking out stops....I think it'll be back up before the end of the week to .05 or so.
Posts: 798 | Registered: Jun 2004
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Alaskan Oil and Gas brings an excellent potential partner to the table in Fowlers Oil and Gas. The company is looking to develop both oil and natural gas reserves located in the Cook Inlet oil basin in Alaska. Ownership of the 80 acres property located in the cook inlet is owned free and clear by the fowler family for the last 45 years, with an additional 7,000 adjacent acres to be leased. Well spacing for the owned property will be one(1) well for every twenty(20) acres with the possibility of approval for a one(1) well per ten(10) acres. Current Oil Reserve is an unproven reserve with an estimated 2 billion barrels. Current Gas Reserve is a fully documented reserve with an estimated 1.9 trillion cubic feet. The development property in question is within 300 feet of main natural gas feeder pipelines.
-------------------- "Let It Ride".. Posts: 17 | From: USA | Registered: Mar 2005
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