No. of Recommendations: 1
" I wouldn't lose much sleep. It's not as if there is anyone who is unaware that (a) the oil business is very cyclical, and (b) not in a predictable way.
It's a shame that Berkshire's OXY position is underwater by 1/3, but I think it's mainly a wager on the long term, with a dividend to while away the years. Oil will have value for a very long time, just sometimes less than at other times.
Jim"
Good morning old bud, we can always count on the mayor. Has it occurred to you that the Saudis and other members of OPEC may have a plan to make sure it's never cost effective to, drill baby drill? Do you think big American based oil companies will invest 100's of billions into long range projects, at 58 $$ oil? Thank you.
BTW, I sure hope most of you don't get cnbc globally, this morning's coverage of the annual is painful to watch.
