Energy Bar

Here come the world
With the look in its eye
Future uncertain but certainly slight
--INXS

The energy complex has taken it on the chin during this period of forced liquidation. Filled up my car this weekend for ~$20, less than half of July's cost.

This won't last. Sure, energy demand has decreased with the slowing global economy. But supply is contracting also as present and planned capacity is being wiped off the boards. As such, the long term fundamentals for oil and natty gas are improving.

Paraphrasing Jim Rogers, I'm having a hard time seeing how the price of oil isn't appreciably higher 5-10 yrs from now.

A number of oil companies are leasing tankers and taking delivery of physical crude at these prices. Wish I could do the same.

Alas, I'll have to settle for 'paper' rather than 'wet' barrels. Have been adding to my energy ETFs at current price levels.

positions in oil, natural gas