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RPC Inc. Message Board

  • joeevani joeevani Feb 15, 2006 2:27 PM Flag

    Oil at $100 a Barrel

    Ex-Chevron Scientist Sees Opportunity in Oil at $100 a Barrel

    By Charles Siler
    Jan. 18 (Bloomberg)

    ....Tertzakian, a former scientist for Chevron Corp., is chief energy economist of ARC Financial Corp., an investment-management company in Calgary, Alberta, that runs private-equity funds focused on energy.

    Sometime this year, he says, global oil demand will reach 86 million barrels a day, or 1,000 barrels a second. We're on the cusp of a ``break point'' that will change how we consume energy, creating opportunities as well as challenges for companies and investors.

    ``Oil at $20 per barrel is history, at least until major changes reduce the uncertainty, pressure and volatility that we are only now beginning to experience,'' he writes. ``Seasonal spikes of $100 per barrel or more will be the new reality.''

    The world isn't running out of petroleum, he says: ``There is plenty of oil left in the ground to last us many decades, if not longer.'' Unfortunately, he adds, demand is accelerating even as the world is running short on the best grade of petroleum, light sweet crude.

    (end excerpt)

    Those who are buying companies like RES now will be rewarded.

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24.45+0.07(+0.29%)Jul 25 4:01 PMEDT

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