Montag, 6. Juli 2009

Oil

BP's chief economist apparently believes that 20 years from now, 80 % of the world's energy needs will still be met by burning fossil fuels. Let's hope he's wrong.

Coincidentally, after a two month hiatus, I decided to buy oil futures again. No clear reason really, other than the price being under pressure lately, and my continuing conviction that in the longer run, it can only go up. As for the short run, no idea. Except that I consider it extremely unlikely that oil will again fall below 50$/barrel for a prolonged period of time. In other words: IMVHO, mid-term upside is bigger than mid-term downside.

Kommentare:

  1. Bad timing: So far, the price keeps dropping!

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  2. Hey, I'm not a daytrader! Give it a while, ok?

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  3. I say it will drop further.

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  4. Dropping, dropping, dropping! ;-p

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  5. Dropping oil prices seem to give you an orgasm...

    But yes, my timing wasn't exactly superb. Should have waited a few more days. Anyway, I try to predict long-term fundamental trends. As for short-term developments over a few months: I have not the slightest clue whatsoever where they take us to...

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