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Originally Posted by noppenbd
The Wall Street Journal reported this week that Exxon Mobil's oil exploration program is consistent with future oil prices of $65 a barrel or less. Basically they are not spending a lot on searching for new oil. If they believed oil at $110+ was sustainable wouldn't they be looking like mad for as much as they can get?
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Yeah, I've read several articles where the people who really know oil (
not the hedge funds or the gold bugs) say the "real price" should be in the 70's or 80's.
But honestly I don't want to rain on anyone's parade. If you want to invest in commodities, please go ahead. If you keep winning big, my hat's off to you.