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ConocoPhillips Message Board

  • bustfraud bustfraud Mar 20, 2005 4:05 PM Flag

    Something to ponder before selling!

    Many Wall Street analysts are scratching their heads in disbelief about the recent rise in crude oil prices with all that supply on hand.
    Coming from an analytical mind background, new thoughts are emerging for an explanation. The one that is emerging appears very logical to me.
    During the 1830's Texas was settled by those attracted because good land could be purchased for 10 cents an acre. a 1000 acre spread cost only $100. Times
    have really changed since then and those who have the land now hold it as an investment and sell only when they get their price or need the money for other
    purposes.
    When the big East Texas oil field came in oil was in abundance and producers over developed and just about gave it away. The Texas Railroad Commission came
    in with regulations that saved the Texas oil and gas industry. Now over 70 years have passed and a new oil market realization has emerged and the oil
    and gas producers are learning that crude oil just as land or gold is a storehouse of value. There is the awareness that if it is not produced and sold
    today in the future it will become more valuable. Oil is replacing gold as the true storehouse of value. The days of oil producing countries to produce
    all they can for today's market are gone, gone, the new world order is that oil sales will be managed just as lands sales are managed.
    Think about this. Last September hurricane Ivan caused a Chevron oil platform in the Gulf of Mexico to be shut down consequently loosing 50,000 barrels
    of production a day. At todays prices that production is worth $500,000 per day more than last fall. The commodity analysts interviewed on CNBC are dumb founded, but this
    presents a logical explanation.
    Look out everyone for big time inflation of the dollar for it is coming real soon.
    My research tells me that COP is still selling at bargain basement prices.
    If any of you who read this post have reached similar conclusions, please post your thoughts.
    Regards, B.F.

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