There is no easy fix for oil problem and the prices will stay high. That's what most analysts and people in know are saying. Reason is high demand by USA, China, India, Japan and other Asian countries. China demand has increased 30% from last year. $40 oil is cheap compare to 10 years ago if you add inflation like other products. PQUE has 2 advantages, higher production and higher prices. Can't go wrong when both forces are behind you.
I'll agree with you on that.Oil imo will clip $45 per barrell very shortly.The markets are telling us that,look at the awful volume on Nasdaq Friday on a up day,not a good sign at all.The bears are in control and what we need is a major down day say 5% with extreme volume to right the market-but with big money backing Bush,I don't think they will let that happen.Therefore a long painful ride down in the general market for the forseeable future.Oil-short term and gold-long term are imo two areas to be long in this market.