Great essay thank you for these insightful comments. It is interesting that despite the brief "defaltionary hammer" of FED rate raising and some commodities really declining, black gold only dipped below 100 for a couple of days and bounced back quickly. Again we must focus on the fundamentals as you (Broncho) have astutely noted; for years the chronic underinvestment means that supplies cannot "magically appear". Presuming the voracious appetite from India and China continues (let alone a hopefully resurgent US) demand is only getting stronger. If oil can maintain the 100 plus range (yes it could dip if the FED jacks up rates more than expected but it should not last) Texas Tea will be in the "sweet spot" for at least another year (I am conservative here). I just dont see a better more stable oil play than PBT. Please God let it continue to rise maybe I can make up for my disastrous losses on LL&E.
Great essay thank you for these insightful comments. It is interesting that despite the brief "defaltionary hammer" of FED rate raising and some commodities really declining, black gold only dipped below 100 for a couple of days and bounced back quickly. Again we must focus on the fundamentals as you (Broncho) have astutely noted; for years the chronic underinvestment means that supplies cannot "magically appear". Presuming the voracious appetite from India and China continues (let alone a hopefully resurgent US) demand is only getting stronger. If oil can maintain the 100 plus range (yes it could dip if the FED jacks up rates more than expected but it should not last) Texas Tea will be in the "sweet spot" for at least another year (I am conservative here). I just dont see a better more stable oil play than PBT. Please God let it continue to rise maybe I can make up for my disastrous losses on LL&E.