has Brent bottomed @ $78 as lots are predicting?

[ALLFARMER]

My thoughts are no, I think were headed for 60's. The more it goes down so does the canuck buck. Once the buck gets to 0.80 or so I am converting my US held stocks to Canadian.

Saudi,Russia, US, Canada and a host of other countries are pumping hard.

Just need the price at the pumps to drop below the 1/litre mark.

[bucket]

If buffet is buying oil sands the low might be close.

[phoenix64]

Nope, I'm thinking 50 bucks, Saudis will continue dumping oil on the market to break the backs of the shale producers, break even lifting costs for some of the high cost companies is approx 80, but need to bring it below 60 to kill the efficient ones to regain u.s. market share, thinking by mid to late 2015.

[ALLFARMER]

^ Thats what I was thinking. If Saudi really has the oil reserves/capacity to pump I think they will keep their budgets going by going the volume route.

[phoenix64]

Hell yah Saudis have free flowing light oil, break even lifting costs very low they can flood markets at will if needed by simply opening the valve an extra turn.

[fjlip]

Might take another year to see UNDER a buck pump prices. Lots of expensive inventory to burn yet. Oil co's so reluctant to go under that $1, it just hurts like hell to give up the millions of $$$ to dumb consumers.

[Oliver88]

Hmmmmmm.......
-buy larger fuel tanks for a possible 80 cent/litre diesel price?
-invest in decreased Suncor stocks?

[ALLFARMER]

I have some Suncor....pays a nice divy.

[Hopperbin]

Its likely time for buffet to make a bad deal. Isnt western canadian oil already 20 under market because it cannot get to market? And somehow klause can still make 1, 000 per day plus company truck so how?

[Horse]

Hopper because He works so dam hard. ha ha

[AllisWD45]

Recommend everyone read a new book out called "A Colder War". an interesting take on Putin and Russia and the politics of oil,uranium, the middle east and the status of the US dollar in a new world order. Basically explains how Putin is planning to be the next world super power without firing a shot or dropping a bomb. Very interesting because the book also gives a history of oil and an explanation of what is going on in the Middle east. I did not know for example that Isreal is on the verge of becoming an energy exporter and may very soon become an ally of Russia along with the Saudis.

[sumdumguy]

Gotta get my hands on the book. Name, publisher?

[sumdumguy]

Name S/B author.

[bucket]

Isn't canada allied with Isreal and the Saudis as well?

Interesting.

[AllisWD45]

The Colder War. Author Marin Katusa.Released November 1. Got mine on Amazon but it should be in all book stores by now