Yes!!!!!!!!!! Lol

Come on Crude hit my price target!

Yes, I'm close to my price target 120. Haha

I think oil prices will be going higher for a little while. The oil production guys have
ways to boost short term production at the expense of long term production. I think they
have been doing a lot of this in recent years.

And America is more dependent on Mexico and Canada for crude.

Very true Kent. Too many distorting variables in the black icky stuff. Middle East could
have an underdeveloped infrastructure which would result in diminishing supplies. And that
goes for any country whose government is intervening. If it was a free market the price
would reflect the true market "equilibrium".

Amost everything in this world is petroleum based. That is not changing until ALL the oil
is pumped out of the ground.

One interesting benchmark to be aware of: China has a target to have 15% alternative
energy use (primarily solar) by 2020. By 2050, China has a target of 30% alternative
energy use. Also, there doesn't appear to be any threat or concern about radical Islam in
China. . . leaving western civilization to deal directly with the expansion of Middle
Eastern pressures as their oil supply diminishes; a situation in which someone like Chavez
is wanting to be an active, influential participant in order to raise his position of
prominence.

I have always held to the theory that oil is a limited commodity and barring short range
swings based on the vagaries of the oil markets, over a period of time, will turn out to
be a premium investment. Exxon is a dynasty stock and should be in every portfolio.

oil has gone up quickly in a relatively short time. I can't help but think that it may
have a monster pullback in 2008.

Despite the number of things holding up oil (dependence, demand, falling USD, refinery
capacity), .... people and manufacturers are looking for alternatives, and are looking to
make them permanent.

OPEC is probably sweating. High prices make people look elsewhere. This sharp rise
threatens long-term demand. They'll get their money now, but the honeymoon has to end
eventually ... Rises like this shave off years of profit.

That said, if I could pick one refinery/oil company, domestic or foreign, what should it
be? Which will best off when (or if) oil drops?