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BP Prudhoe Bay Royalty Trust Message Board

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  • vickersviscount vickersviscount Aug 19, 2005 1:52 PM Flag

    WELCOME BACK Daytraders. . .

    No, I don't use stop-loss orders on BPT, and seldom on other stocks. . .just my trading habits. I am in most of my shares at prices from 2-4 years ago (although I sold some to cover my original investment), so I am less concerned at this time about losing $5 a share. In the long run, I feel that oil will remain very high, and that the dividends for long term holders will help "smooth-out" weekly fluctuations. As I mentioned, Goldman Sachs and the Financial Times put it in a way that is easy to understand . . .the easy and cheap oil (light sweet) was found and developed decades ago. . .the harder to find oil (North Sea and Prudhole Bay) were also from decades ago and are in decline. . .so the next finds are harder to find, dirty (tar sands) and in places where shipping costs may be higher. . .therefore, high oil prices MUST be maintained to justify exploration and development. . .(the development costs for Canadian Tar Sands has been doubled recently). . so, I think $70 for BPT is probably the floor area at this point.

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